Samriddhi – Rural Enterprises and Remittances Project 

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Samriddhi - Rural Enterprises and Remittances Project

 

The objective of the project is to reduce poverty and achieve sustainable peace through employment-focused, equitable and inclusive economic development. 

The Samriddi project will diversify the range of economic activities accessible to poor rural households and unemployed young men and women by:

  • Promoting self-employment and small businesses and microenterprises that can generate better incomes and jobs – through both on farm and off-farm activities 
  • Carrying out vocational training and apprenticeship for gainful job placement 
  • Developing mechanisms specifically targeting migrant households and returnees, so they can make the best possible use of their remittances.

In Nepal the majority of the population lives on low-input/low-output agriculture that provides limited income. Wage labour and widespread migration have obligated 3 million Nepalese, mostly from rural areas, to be employed abroad. 

The project will be implemented in 16 districts of the Eastern and Central Development Regions. It will target 179,000 beneficiaries. The project will also provide financial education to 244,800 people to support financial inclusion.

Source: IFAD

 
Status: Ongoing
Country
Nepal
Approval Date
22 April 2015
Duration
2015 - 2022
Sector
Credit and Financial Services
Total Project Cost
US$ 49.32 million
IFAD Financing
US$ 19.79 million
Co-financiers (Domestic)
National Government US$ 9.15 million
Beneficiaries US$ 6.64 million
Private sector local US$ 13.75 million
Financing terms
DSF Grant/Highly Concessional
Project ID
1100001724
Project Contact
Roshan Mr Cooke

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