Partnership with Mega Bank
Civil Initiative reached an agreement with Mega Bank Nepal Limited (MBNL) on 1st August 2017 for the further development of civil scholarships for disadvantaged students of Nepal. Earlier in June Deputy Prime Minister and Education Minister of Nepal Hon. Gopal Man Singh launched Civil Scholarship Fund that was established by Civil Initiative with a donation from the Non-Resident Nepali Association (NRNA) Thailand on 14th August.
With the new agreement between Civil Initiative and MBNL, the account of the Civil Scholarship Fund will be opened at MBNL and MBNL will deposit 300,000 NPR each year for the scholarship as its CSR contribution.
The main goal of the scholarship will be to support needy students from disadvantaged communities by enhancing positive effects on school enrollment, attendance, and learning outcomes, reducing dropout and repetition rates, and promoting the school cycle completion rate.
The scholarship will be awarded to the students between Grade IX and Grade XII with the principle of inclusion. In order for the sustainability of the scholarship fund, the students shall be supported by the bank interest of the Endowment Funds. NRNA Thailand has already contributed a sum of 3.6 million rupees.
This amount has been deposited in the fixed deposit account at Mega Bank Nepal Limited. A ‘Civil Scholarship Fund Guidelines, 2017’ have been developed containing the scholarship eligibility criteria. The scholarship shall be allocated to the earthquake-affected districts for the first five years. For the first year, the project will be implemented in Dolkha and Gorkha districts, for 40 students, with 20 students in each district as a pilot project, and in the following years minimum of 100 students will be awarded the scholarship each year. Civil Scholarship Board has announced that the scholarships will be distributed to 1st batch at the beginning of the new Nepali academic year 2075 considering the student’s achievements in the year 2074.
Civil Initiative appreciates the collaboration with MBNL for this noble cause. MBNL is an ‘A’ class commercial bank licensed by Nepal Rastra Bank and has branches all across the nation with its head office in Kathmandu which provides entire commercial banking services.
Kabu Bhawan, opposite Chirayu Hospital, Basundhara, Kathmandu 03, 44600 Nepal