As of April 19, 2020, the total financial contribution of the cooperative movement in Nepal to various funds created at the federal, provincial, and local levels, is NPR 20,172,076. The helping hands are increasing day by day.
The National Cooperative Federation of Nepal (NCF) appealed cooperatives at all levels to provide digital services to their members where possible to maintain social distance guidelines. The NCF created a Corona Prevention Fund to support the Corona Control Cooperative Center and the Coronavirus Infection, Prevention, Control and Treatment Fund established by the Federal Government.
Additionally, Nepal Federation of Savings and Credit Cooperative Union Ltd. (NEFSCUN), Central Dairy Cooperative Association Ltd. (CDCAN), Nepal Multipurpose Central Cooperative Union Ltd. (NEMCCU), National Cooperative Bank Ltd. (NCBL), including other central and district level cooperative unions offered service delivery and support to their members.
Nepal Agricultural Central Cooperative Federation (NACCFL) collected and sold members' fresh vegetables in Kathmandu during the lockdown period at the lowest cost possible. A fresh vegetable delivery service was also established in Jankpurdham by the Janakpur Province Land Management Agriculture, and Sailandra Sah, the Cooperative Minister. Province 1 cooperatives are also providing logistic support to provide food and clothes to the poor people.
Cooperatives are also providing ambulance services to COVID-19 infected patients and free PPEs to security personals in different provinces.
A large number of financial cooperatives are reducing their interest rates to help members manage their finances during the pandemic. However, the services they offer are vulnerable. Withdrawal rates are high, and a significant number of small financial cooperatives are at risk because of the financial disparity. Financial cooperatives that do not offer online service platforms or ATMs, are providing door-to-door services to members who need quick access to funds, and also offering more flexible terms for loans. There are 450,000 farmer members dairy cooperatives in Nepal, who are members of 1,760 Dairy Producer Primary Cooperatives who collect raw milk from their members to be processed at processing plants, which are currently closed. To temporary resolve this, the primary cooperatives are selling milk to their unions and private dairy companies. Tea and other produce cooperatives are facing harvesting challenges due to worker shortages and will have to face a financial deficit. Some are still managing to sell their products in local markets while following social distancing rules.
