Pilot CUs in Agreement to BDS as Essential Part of Lending
- Date : Monday June 08, 2020
- Venue :
The online consultation meetings on June 2 and 8 for the partner credit unions of Nepal and the Philippines respectively concluded that BDS or business development services is even more essential for members to bounce back from the impact of COVID 19.
Even before the lockdown seen in most Asia countries, ACCU has been advocating the integration of BDS to lending to stimulate business startups, expansion and sustainability. With the coaching, training, facilitation, market linkages and networking provided by BDS, there will be more chances for enterprises to succeed and thus, create loan demands at the credit union. The need for BDS has been heightened because of the increase of unemployment due to COVID 19.
The National Credit Union Federation of Korea (NACUFOK) provided financial support to institutionalize BDS in select countries – Nepal, India and the Philippines. At least 10 credit unions have been selected as pilot.
Admitting that the implementation of the program was affected by the global pandemic, ACCU find ways to bring the learning and coaching online through online platform. The meetings concluded that all partner CUs need to appoint a staff person who oversees BDS, build its tools, linkages and reach out to members who can be assisted.