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1

Contents Foreword ....................................................................................................................................................... 2

Abbreviations: ............................................................................................................................................... 3

A. GENERAL DETAILS OF THE PROJECT: ........................................................................................................ 4

B. THE PRELUDE: ........................................................................................................................................... 5

C. PROJECT BACKGROUND ............................................................................................................................ 6

D. STAFFING & PLANNING: ........................................................................................................................... 7

D-1: Project Staffing/Team Selection ........................................................................................................ 7

D-2: Introductory Workshop for Project Staff .......................................................................................... 7

E. PROJECT ACHIEVEMENTS: ......................................................................................................................... 8

Retail Credit to a CO Member: ................................................................................................................ 10

F. MONITORING & EVALUATION: ............................................................................................................... 12

G. IMPACT ................................................................................................................................................... 13

H. CHALLENGES: .......................................................................................................................................... 13

PICTURE BANK ............................................................................................................................................. 14

J: ANNEXURE ............................................................................................................................................... 15

J-1: Annexure I: Detail of wholesale disbursement ................................................................................ 15

J-2: Annexure II: Detail of borrowers under retail component .............................................................. 16

J-3: Annexure III: Success Stories ............................................................................................................ 18

J-4: Annexure IV: Appraisal Formats ....................................................................................................... 20

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Foreword

We would like to acknowledge the support of the Pakistan Poverty Alleviation Fund (PPAF) and the International Fund for Agriculture Development (IFAD) in initiating the Micro Innovation Outreach Programme (MIOP) and in putting together reporting on this. The MIOP covered the areas of: grants for flood relief, improving market access in the milk value chain, and Islamic banking. The support provided by PPAF and IFAD has comprised both financial and technical aspects. The PPAF have also contributed in the way of knowledge management.

These inputs have been invaluable for putting together these studies and for enhancing cooperation and institutional understanding between the NRSP and PPAF. The findings of these reports will be made available to other development and microfinance institutions as a means to disseminate best practices and procedures.

3

Abbreviations: AJ & K

Azad Jammu & Kashmir

IFAD

International Fund for Agriculture Development

MIOP

Microfinance Innovation & Outreach Programme

PPAF

Pakistan Poverty Alleviation Fund

NRSP

National Rural Support Programme

BoAJK

Bank of Azad Jammu & Kashmir

MEDP

Microfinance and Enterprise Development Programme

VB

Village Banking

DPO District Programme Officer

SCO Senior Credit Officer

SSO Senior Social Organizer

CRO

Credit Officer

MO

Monitoring Officer

DAO District Accounts Officer

CO Community Organization

VO

Village Organization

LSO Local Support Organization

CMT Credit Management Training

ToP Terms of Partnership

MIP Micro Investment Plan

VDP Village Development Plan

PSC Poverty Score Card

4

A. GENERAL DETAILS OF THE PROJECT:

Reporting Period April 2010 to September 2011

Title of the project “Village Banking in Poonch District of AJK”

Exact location of the project (list of villages to be attached where project is implemented)

Country: Pakistan State: Azad Jammu and Kashmir District: Poonch

Total project duration (months) 17-Months

Total project cost (PKR) 22,787,675

Start date of the project in the field April 01, 2010

Objectives of the project 1. To provide micro credit through an efficient delivery mechanism at the local level for increasing income.

2. To empowering Village Organizations to take decisions.

3. To enable the community to learn financial management

Total number of beneficiaries The project was implemented in Poonch district of AJK. Total 43 village Banks at VO level were established through which total 303 Community Organizations were benefitted (men = 75, women = 144, mix = 84) and financial service in the form of micro-loans were extended to 1,076 clients (men = 364, women = 712)

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B. THE PRELUDE:

Ten years back 147 nations agreed that, together, the citizens of the world must work to put an end to severe poverty by 2015. Eight important goals (The Millennium Development Goals (MDGs) were drafted which, when achieved, will improve the lives of the three billion people living in dire poverty. The MDGs include:

Eradicate extreme poverty and hunger. Achieve universal primary education. Promote gender equality and empower women. Reduce child mortality. Improve maternal health. Combat HIV/AIDS, malaria and other diseases. Ensure environmental sustainability. Develop a global partnership for development.

It is very obvious that in these MDGs which address mainly the physiological needs of humans, last seven goals can only become achievable if first one is achieved i.e. Eradicate extreme poverty and hunger. Below given two sequential quotes by two different persons may generate a simple theme of making effort to support the poor, enabling them get rid of the vicious cycle of poverty through a simple and systematic procedure named “The Village Banking” a booster of microfinance.

"The key to ending extreme poverty is to enable the poorest of the poor to get their foot on the ladder of development. The ladder of development hovers overhead, and the poorest of the poor are stuck beneath it. They lack the minimum amount of capital necessary to get a foothold, and therefore need a boost up to the first rung. "

Jeffrey D. Sachs

“None of us like the idea of apartheid. We object when we hear about such a system in any form, anywhere. We all understand that no one should suffer because he or she happened to be born in a certain race, class, or economic condition. But our financial institutions have created a worldwide system of apartheid without anyone being horrified by it. If you don’t have collateral, you are not credit-worthy. To the banks, you are not acceptable on our side of the world.

If the poor are to get a chance to life themselves out of poverty, it’s up to us to remove the institutional barriers we’ve created around them. We must remove the absurd rules and laws we have made that treat the poor as minorities. And we must come up with new ways to recognize a person by his or her own worth, not by artificially measuring sticks imposed by a biased system.”

Mohammed Yunus

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C. PROJECT BACKGROUND

Village Banking is a microcredit delivery methodology by a community institution whereby financial services are administered locally. To eliminate the need for collateral (the poor man's obstacle to receiving bank loans), village banks rely on a variation of the solidarity lending methodology. It relies on a system of cross-guarantees, where each member of a village bank ensures the repayment of the loan of every other member. This system gives rise to an atmosphere of social pressure within the community, where the cost of social embarrassment motivates the community bank members to repay their loans in full. The admixture of cross-guarantees and social pressure makes it possible for even the poorest people to receive loans.

By providing very poor families with small loans to invest in their microenterprises, Village Banking empowers them to create their own jobs, raise their incomes, build assets, and increase their families’ well-being. As enterprises grow, families earn more, and this earning enables them to fulfill their physiological as well as social needs. Gradually, many Village Bankers make significant improvements to their businesses, their homes, and their lives. Because neighbors support each other while growing their businesses, Village Banking helps invigorate the entire communities. NRSP is contributing in the efforts of providing financial services to the rural communities, and is used to invest in and capacitate community organizations (CO-VO- LSO) to develop as effective providers of microfinance services and to expand outreach across the state. At the same time, NRSP provides credit for productive purposes to men and women through solidarity group methodology also having new loan products for social development and healthcare to the community within its intervened area. Despite all the problems and risks (droughts, floods, earthquake, market failures, crop diseases etc) NRSP makes every effort to increase the outreach of its microfinance services (through retail and wholesale/village banking approach), to achieve the ultimate objective of reducing poverty in the rural areas.

In order to provide easy access for rural communities and grassroots level institutions to financial resources, NRSP proposed village banking model under IFAD’s Microfinance Innovation & Outreach Programme (MIOP) which was specially launched to assist microfinance institutions relying on donor funding and the institutions which are bringing innovations while increasing outreach within a specific geographic region in the country respectively.

For the implementation of the proposed village banking model, Rawalakot of District Poonch (AJK) was chosen. The prominent geographic, demographic and economic features included hilly terrain, dispersed population, inadequate road infrastructure, deficient communication channels and consequent poverty. The rationale behind choosing this area was to get optimal results and efficacy of village banking as the conventional banking in such area results in increased cost with fewer chances of sustainability, hence, didn’t exist at all. However, through

7

the interventions of NRSP, there exists a strong and capacitated network of COs, VOs and LSOs, thus nurturing the village banking resulting in timely access and steady availability of finance facilities to the poorest of the working poor, helping them in building physical and human capital.

NRSP’s village banking model was intended to provide banking services to the poor while converting high costs to lower costs through dealing through community’s own institutions i.e. NRSP provided credit to the village organizations/village banks on a whole sale rate of 20% while the VOs started retail credit at the rate of 28% at local level. Locally administered banking system with lower costs and greater spread not only resulted in sustainable abiding entities but are to create surplus which will result in finance pooling and a definite increase in beneficiary base.

D. STAFFING & PLANNING:

D-1: Project Staffing/Team Selection

Staff members were selected for smooth implementation of the project activities. NRSP has seasoned professional staff, having sufficient knowledge and expertise related to microfinance & enterprise development and capacity building of grassroots level institutions, therefore NRSP preferred these competent, skilled and fully experienced members in the selection process. Furthermore, the gender aspect had also been kept in mind positively while selection of staff for the project.

D-2: Introductory Workshop for Project Staff

A one day project orientation workshop for the project staff was arranged at NRSP’s AJK Regional Office. The workshop contents and proceedings are narrated as follows:

a) Introduction of the Project:

The staff was given orientation of the project a detailed multimedia presentation. The presentation surrounded project area, period, activities and the implementation methodology. The role and responsibilities of the staff were also defined and communicated. Particular focus was “team building” so that the project activities can be implemented smoothly.

b) Work Plan of the Project:

The project work plan was explained in detail and the project team was assigned duties with emphasis on timely implementation of the project activities with quality of work.

c) Record Keeping:

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It was decided that the record keeping process adopted in earlier projects with some additional necessary amendments will be followed. As the staff selected for the project was experienced enough to maintain the record keeping at each level, therefore, only critical instructions were given regarding the record keeping. It was finalized that the record keeping will be maintained at regional office level. It was also decided that separate record for each and every activity of project will be maintained.

E. PROJECT ACHIEVEMENTS: History showed that an increased disbursement of credit with consequent considerable rise in rural incomes never resulted in a corresponding rise in saving rate. It is the time to change the conventional approach of either disbursing loan without mobilizing domestic capital or using saving as collateral for credit. A linkage of saving with credit i.e. internal lending method has proved to be far more self-reliant and sustainable in a number of practical examples. Apart from this, savings of the rural areas if deposited to commercial banks, without linking them with internal credit system means flight of capital from rural areas. Therefore Institutionalization of saving, i.e. to develop an informal system of linking rural saving with internal lending system is of significant value for self-reliant development of rural areas. It is not the saving alone which is important but the use of accumulated saving.

E-1: Whole Sale (WS) Credit Facility for Village Organizations (VOs): Below is the brief summary of steps and procedures that were followed in order to sanction a loan to a certain VO:

Introduction of whole sale credit programme by NRSP staff Loan application for WS credit from VO to NRSP through LSO. Submission of resolution, signed by 75% members, from VO to LSO for provision of

whole sale credit from NRSP. LSO’s recommendation of VO for availing credit facility. VO’s appraisal/assessment by team of NRSP professionals (SCO, DAO, FU Staff) plus LSO’s

representative at two levels.

1. Institutional Level a) Age of VO must be at least six months. b) Regular monthly meetings and attendance percentages (at least 75%)

c) VO must be registered from NRSP. d) Regular savings – saving’s trend should be consistent over a period of time. e) 70% HHs of the village must be organized with inclusive approach f) PSC & Village Development Plan (VDP) of whole village must be completed g) Micro Investment Planning (MIP) at the household level must be completed. h) By laws and credit policy of VO must be prepared.

9

2. Financial/Administrative Level a) VO must have at least two members, who has experience in financial management and will get trainings related to credit/financial management (In case of illiteracy in the area this condition will be flexible)

b) VO must have saving account plus each member CO must also have saving accounts (preferably in BoAJK) c) VO must have two signatories for the saving account. d) At least 40% member COs must have the experience of internal lending (mentioned percentage could be flexible from case to case)

e) There should be no overdue/default during internal lending through own savings or against credit from any RSP/MFI/NGO/Bank.

Signing of Terms of Partnership (ToP) between NRSP and VO having LSO as a witness. Completion of case along with other compulsory documents:

o Bank statement of last six months of the saving account of VO o Bank statements of last six months of the saving accounts of all member COs o Saving and attendance record of last 12 months.

Support of FUI with Senior Credit Officer (SCO) in preparing the WS credit case. Review/verify of whole case by SCO and recommendation to approval committee (DPO,

SSO, Monitoring Officer and DAO) After approval and before disbursement there were two important steps:

1. VO forms (or present) a credit committee at least of three members (two regular VO

members & book keeper) who supervise and operate credit systems within the VO. 2. VO forms (or present) the audit committee of two members which plays its role as a

check on financial activities. (Membership age in VO will be at least 3 months to act as member of credit or audit committee while these committees will be elected for the period of one year)

Two days Credit Management Training (CMT) is mandatory before disbursement of loan to VO for members of credit and audit committees of the VO for smooth and transparent loaning among all the members of all COs.

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12

Agriculture Loan Ceiling Up to Rs. 10,000 for a season Markup Rate Not more than16% per annum Loan Period 6 to 12 months

Repayment Mode Lump sum – within a month after harvesting, while option is available for monthly repayments in case credit is obtained for feed/fodder

Collateral 20% compulsory saving equaling of the credit amount

Working Capital Finance (WCF) Ceiling Up to Rs. 20,000 Markup Rate Not more than16% per annum Loan Period 6 to 18 months

Repayment Mode Monthly installment. Maximum grace period to start installments is one month.

Collateral 20% compulsory saving equaling of the credit amount

Livestock Loan Ceiling Up to Rs. 20,000 Markup Rate Not more than16% per annum Loan Period 12 to 18 months

Repayment Mode Monthly installment. Maximum grace period to start installments is one month to be decided on case-to-case basis while option is available of lump sum repayments in case of loan for fattening/breeding of goats/sheep.

Collateral 20% compulsory saving equaling of the credit amount

Consumption Loan Ceiling Up to Rs. 20,000 Markup Rate Not more than16% per annum Loan Period 12 to 18 months

Repayment Mode Monthly installment. Maximum grace period to start installments is one month.

Collateral 20% compulsory saving equaling of the credit amount

(Detail of borrowers is attached in annexure II)

F. MONITORING & EVALUATION: At field level, the overall project monitoring and supervision was the joint responsibility of Field staff and NRSP Project Coordinator, while NRSP made sure random visits to keep eye on the field activities. The MER team of NRSP Regional/Head Office also undertook fortnightly monitoring follow-ups. The social organizers and trainers planned their activities on weekly

13

basis and daily review meetings are being arranged at District Office to assess the progress vis-à-vis the planning. The regular progress reports were sent to PPAF.

G. IMPACT The community based village banks, established under the project will extend financial services at micro level for the development of entrepreneurship and other income generating activities even after the closure of the project as they have acquired appropriate capacity and sufficient credit pools after having the project interventions. They have an edge of support and facilitation from RSPs and consequently they will jointly serve the mission of poverty alleviation. This will be an inspiration for other community institutions to focus on capital formation through their volunteer savings and replicate this model. Moreover, financial literacy and development of business culture in such area where rural communities are lagged behind to gain the leverages and benefits of capital formation is an icing on the cake.

In the long run, these village banks can also link themselves with other financial institutions like Bank of AJK to have expansion of their financial services at micro level according to the specific area needs.

H. CHALLENGES: • Still there is a dire need for wholesale credit in order to establish village banks in the

remaining villages and to increase outreach in present villages.

• Village banks established under the project need continuous counseling, guidance and training to ensure sustainability of these banks.

• There is a need to link the established VB’s with conventional financial institutions so that they can improve their services and can increase the outreach.

____________________________________

PICTUR

RE BANK

14

15

J: ANNEXURE

J-1: Annexure I: Detail of wholesale disbursement

S No

Vo Name Disb. Amount Total CO Saving Men Women Mix Men Women

1 Nambal Bala 460,000 6

1

1,450

15,950

2 Manjora 300,000 1 1

2

3,625

7,250

3 Vo Dher 815,000 7

1

29,725

-

4 Dar Gala 835,000 - 1

5

14,000

51,000

5 Gam Banjosa 310,000 3 3

2

28,500

6 Akhorban 315,000 9

-

13,775

7 Banbi Narian 680,000 3 4

2

8,700

15,950

8 Arounta 700,000 4

1

1,450

26,100

9 Mara Ghameer 800,000 1 3

7,250

21,750

10 Khotarian 630,000 2 6

1

10,875

12,325

11 Kanyian 540,000 8

2

15,225

4,350

12 Baryan Sarari 700,000 3

2

9,425

16,675

13 Chachri 220,000 1 2

1

-

7,975

14 Gala Peer Panjal 860,000 1 1

9

17,400

13,775

15 Narwal 270,000 2 3

1

4,350

5,800

16 Mara Manjari 280,000 2 2

2

4,350

5,800

17 Soka Kass 685,000 1 2

2

9,425

16,675

18 Bhantini 430,000 1 5

1

10,875

13,050

19 Natha Gala 360,000 3 3

2,175

14,500

20 Sawa Tia 220,000 1 2

2

6,525

1,450

21 Thorar 380,000 5

7

10,000

900

22 Trapi Bolawa 200,000 3 6

1

6,000

7,500

23 Chattarian Nakkar 240,000 2 3

2,400

9,000

24 Centra Chatara 425,000 1 7

2

1,300

5,000

25 Upper Wasti Chattara 585,000 1 10

16

S No Vo Name Disb. Amount

Total CO Saving Men Women Mix Men Women

2 1,000 35,000

26 Anahari 250,000 2 3

642

13,312

27 Kamora 570,000 1 2

2

2,888

23,125

28 Tata Pani Tahi 600,000 5 2

16,520

3,192

29 Barian 200,000 3 6

2

1,900

16,000

30 Kathara 630,000 4

3

4,500

30,000

31 Poth Bala And Zarian 590,000

9

9,000

14,400

32 Hari Manjar 300,000 3 1

3

6,300

9,600

33 Phaugha Dhaka 240,000 1 1

5

7,000

2,500

34 Kotara Zariat 420,000 1 2

1

36,000

35 Darari 665,000 1 6

3,640

14,310

36 WastiKoyian 505,000 1 4

18,000

37 Pothi Bala 300,000 4

9,000

38 Gola Gawra 210,000

5

1,590

4,360

39 Kotarian 380,000 3 3

2

4,950

5,250

40 Nambal Bala 430,000 6

1

530

10,920

41 Akhorban 510,000 9

17,160

42 Natha Gala 130,000 3 3

3,100

43 Mera Minjari 620,000 2 2

2

9,975

6,480

Total 19,790,000 75 144

84

275,460 558,259

J-2: Annexure II: Detail of borrowers under retail component

S No VO Name Disb. Amount Borrowers

Men Women

1 Nambal Bala 460,000 2 22 2 Manjora 300,000 5 10 3 Vo Dher 815,000 41 4 Dar Gala 835,000 10 36 5 Gam Banjosa 310,000 19 - 6 Akhorban 315,000 19

17

S No VO Name Disb. Amount Borrowers

Men Women

7 Banbi Narian 680,000 12 22 8 Arounta 700,000 2 36 9 Mara Ghameer 800,000 10 30

10 Khotarian 630,000 15 17 11 Kanyian 540,000 21 6 12 Baryan Sarari 700,000 13 23 13 Chachri 220,000 11 14 Gala Peer Panjal 860,000 24 19 15 Narwal 270,000 6 8 16 Mara Manjari 280,000 6 8 17 Soka Kass 685,000 13 23 18 Bhantini 430,000 15 18 19 Natha Gala 360,000 3 20 20 Sawa Tia 220,000 9 2 21 Thorar 380,000 17 2 22 Trapi Bolawa 200,000 5 5 23 Chattarian Nakkar 240,000 4 10 24 Centra Chatara 425,000 1 34 25 Upper Wasti Chattara 585,000 1 43 26 Anahari 250,000 1 16 27 Kamora 570,000 4 25 28 Tata Pani Tahi 600,000 23 7 29 Barian 200,000 3 8 30 Kathara 630,000 3 30 31 Poth Bala And Zarian 590,000 18 12 32 Hari Manjar 300,000 9 8 33 Phaugha Dhaka 240,000 10 2 34 Kotara Zariat 420,000 24 35 Darari 665,000 7 27 36 WastiKoyian 505,000 30 37 Pothi Bala 300,000 15 38 Gola Gawra 210,000 3 8 39 Kotarian 380,000 9 10 40 Nambal Bala 430,000 1 21 41 Akhorban 510,000 26 42 Natha Gala 130,000 7 43 Mera Minjari 620,000 19 12

Total 19,790,000 364 712

J-3: An

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nnexure II

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18

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s Village Bar her credit In the Villag promptly.

nd goats hae first three

stems (narrutes around stools. It co

atim Jan saidnd earned a

Fatim Jan’sccess of rural

h I possessedny years, butskills were noctive as I had to start a bu banking has

e easier and I t “cloth” to mcts better.

king on Wom

and depend

unities arou, her childre

ty organizatNRSP resultinndividual levdiscussing co

nking Projecneed at CO

ge Banking P“I availed t

ave “slow” months. As

ri in local la80% of a st

osted Rs.50 d that she anapproximate

s life. She hl poor easy a

skills t for me, ot

no siness. made have

make my

men Headed

dent husband

nd to maken were unde

tion Dar Gang in overalvel. Howeveommon issu

ct, Fatim did meeting wiProject, it wtwenty thoureturn whi

s I had skillanguage) whtool. All I re

per stool. Vnd her daugely Rs.12,000

has a facilityat their door

d Family of

d. She had n

e an earninger the same e

ala, which dll change in er, for Fatimes and to di

d not know ithout havin

was a pleasanusand to buyich may nols to make hich can be equired to puVO provide

ghters prepa0/-. She has

y to pay crer step.

Rawalakot

no option ex

g for her faeffect.

did a numbquality of l

m Jan commuiscuss how t

what to do ng clear connt surprise ty four goats

ot be helpfustools by loattained witurchase cloted guidanceare 2 stools ds managed c

edit back to

19

xcept

amily.

ber of ife in unity to get

with ncepts to get s and ul for ocally thout th for e and daily. credit

o CO.

20

J-4: Annexure IV: Appraisal Formats

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