Just over a year after a 7.8-magnitude earthquake left thousands dead, destroyed centuries-old UNESCO World Heritage sites, and wiped out entire villages, Nepal is struggling to cope with the economic impacts of the earthquake. According to the Nepal government, the overall damage is estimated to be about $10 billion – more than half of the country’s $19.2 billion GDP. The disaster is also expected to push an additional 700,000 Nepalese below the national poverty line, which is currently $200 a year, before mid-2016.
Particularly worrisome is the devastating impact on agriculture. Two thirds of Nepal’s population is employed in the agriculture and forestry sector, according to the International Labor Organization, accounting for 34 percent of the country’s economic output. The government’s estimates show the agricultural sector’s losses at about NPR 28.3 billion, or $284 million at current exchange rates. Without the restoration of the agricultural sector, Nepal won’t fully recover from the earthquake.
The Federation of Women Entrepreneurs Association of Nepal (FWEAN) has been working with the Ministry of Agriculture and Department, with CIPE’s support, to raise awareness among women agro-entrepreneurs about the various funding opportunities offered by the Ministry. Through training seminars on grant applications and procedures for agricultural credit subsidies at each of FWEAN’s 25 district chapters, FWEAN is encouraging women entrepreneurs to use the resources made available by the government.