Kathmandu, Nov 21 : Muktinath Development Bank has won the European Microfinance Award 2020 for its recognition to effective and inclusive savings.
The bank is praised for playing crucial roles for bringing low-income and excluded population in the micro banking programmes.
The award ceremony organised in Luxembourg with the participation of 70 organizations from 37 different countries was announced on the basis of evaluation by independent experts.
"Out of 70 organisations from 37 countries who applied for the award, Muktinath Bikas Bank won the Award," Bank's Chairman Bharat Dhakal told the RSS.
The Bank said that 100,000 Euro of prize amount would be used in different activities to ensure digital banking to the low-income population. The Bank is providing small and micro-banking services from 118 branches, out of its 138 branches in 42 countries.
Currently, more than 180,000 lenders are receiving service from the bank under its small and micro banking scheme while the Bank's investment in this field is Rs 17 billion plus.