Answer:
The government of Nepal has embraced cooperatives as one of the three pillars of the economy, cognizant of their power and evolving prospects to contribute to poverty reduction, service delivery, gender equality and good governance.
Across the world today, cooperatives are increasingly seen as key players at the grassroots level, effectively organizing farmers and small businesses, providing much-needed financial support, and empowering the poor by creating jobs and income-generating activities. It is therefore not surprising that the government of Nepal has embraced cooperatives as one of the three main pillars of the economy, alongside the public and private sectors.
Cooperatives are present across diverse sectors including agricultural, financial and savings, consumer, multipurpose, electricity and health, among others.
Nepal has a long tradition of informal community-based groups engaged in savings and credit, grain savings and labour exchanges. Since their formalization in the mid 1950s, cooperatives have grown significantly, are found in diverse sectors and play an important part in the development of the Nepalese economy by integrating people from different ethnic, social and marginalized backgrounds. In the current times, the cooperative movement is focused on poverty alleviation while promoting women’s participation in cooperatives in membership and leadership roles.
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