July 7:  The Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, has said that digital literacy and access to finance are pivotal for promoting women entrepreneurship in the country. 

A total of 83,300 women borrowers have received altogether Rs 61 billion in subsidized loans, according to the NRB governor.

Governor Adhikari emphasized the significant impact of government policies in empowering women and promoting entrepreneurship in Nepal.

Speaking at the inaugural ceremony of the NewBiz Business Women Summit and Awards 2023 at Hotel Radisson, Kathmandu, on Friday, Governor Adhikari expressed gratitude to the organizer – New Business Age Pvt Ltd - for holding the event to foster women entrepreneurship in the country.

Adhikari said that NRB has implemented provisions enabling women to access loans up to Rs 1.5 million without requiring collateral. He lauded the government's commitment to women's empowerment.

He emphasized that women and girls are not lagging behind, as NRB has formulated a financial literacy framework and is actively working towards incorporating digital literacy into the school curriculum. These initiatives aim to bridge the digital divide and ensure equal opportunities for all.

Moreover, Governor Adhikari recognized the pivotal role of women entrepreneurs in addressing Nepal's trade imbalance. By encouraging and supporting women to establish and grow their enterprises, the country can mitigate this challenge effectively.

Governor Adhikari stressed the importance of mentorship for women before venturing into entrepreneurship. He emphasized that providing guidance and support to aspiring female entrepreneurs is crucial for their success.

The NRB's initiatives to provide subsidized loans to women entrepreneurs have not only empowered women but have also contributed to the overall economic development of Nepal, according to Adhikari.

The efforts to bridge the digital divide and promote financial literacy demonstrate the government's commitment to creating a more inclusive and prosperous society, Adhikari stated.