Himal Press 
KATHMANDU: The 36th International Conference of Asian Credit Supplementation Institutions Confederation (ACSIC) has begun in Kathmandu. Deputy Prime Minister and Minister for Finance Bishnu Prasad Poudel inaugurated the conference on Friday evening.
The Deposit and Credit Guarantee Fund (DCGF) is hosting the conference.
Speaking on the occasion, Minister Paudel said credit flow is necessary for the expansion and development of the economy. Hailing the contribution of the DGCF, he said the Fund has been facilitating innovation and startup loans. “The fund has played a crucial role in promoting innovation and startup loans,” he said, adding that it has also effectively protected public deposits.
Also speaking on the occasion, Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari underlined the need to refine deposit insurance schemes to enable intervention and control of situations if any bank faces problems. Stating that the fund’s capacity has been gradually growing, he emphasized the importance of credit flow based on innovation for small innovative institutions in Asian countries. He also praised the fund’s significant contribution to facilitating private sector credit flow and maintaining a robust banking system in Nepal, even during recent international financial crises.
Likewise, Ramesh Prasad Ghimire, CEO of the DGCF, said that the fund has so far guaranteed deposits worth Rs 1,430 billion and loans worth Rs 296 billion. Stating that the conference would emphasize innovation, Ghimire said the conference would convey the message that loans can be disbursed by keeping new ideas as collateral.
Representatives from 17 credit guarantee institutions across 12 Asian countries are participating in the conference. The conference will conclude on Monday.
