Kathmandu, Sept 19: The Asian Credit Supplementation Institution Confederation (ACSIC) conference is starting in the federal capital here on Friday.
A total of 16 different Asian countries are participating in the conference being held in Nepal after a span of 30 years. The Asian Credit Supplementation Institution Confederation, known as ACSIC, is the cooperation of Asia’s credit guarantee organizations. Established in 1987, ACSIC is Asia’s largest organization designed for credit guarantee.
Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel is scheduled to inaugurate the ASIC conference, also marking the 51st anniversary of the Deposit and Credit Guarantee Fund (DCGF). The conference will be run until next Monday.
The DCGF was established on September 20, 1974, initially under the name Credit Guarantee Corporation. It was later renamed to its current title following the enactment of the Deposit and Credit Guarantee Fund Act in 2017. Initially focused on priority sector lending, DCGF has since broadened its scope, currently playing a pivotal role in both deposit and credit guarantee services aimed at fostering economic development. The DCGF actively supports banks and financial institutions by offering various credit guarantee schemes, ensuring a secure investment environment across diverse sectors.
Chief Executive Officer of the Fund, Ramesh Ghimire, shared that during the conference intensive discussions among the stakeholders will be held on current issues in this field along with the experience of the deposit and credit guarantee agencies of different countries.
Deposit and Credit guarantors from 16 countries including host Nepal are participating in the conference.
