NMB Bank collaborates with IFC to promote SME financing in Nepal

KATHMANDU: NMB Bank has obtained a repeat loan of $25 million from International Finance Corporation (IFC), a member of the World Bank Group. With this agreement, NMB Bank has become the only bank in Nepal to sign three debt investment deals with IFC – worth $65 million in total – within a span of four years. The memorandum of understanding (MoU) has been exchanged between Sunil KC, Chief Executive Officer, NMB Bank, and Hector Gomez Ang, Regional Director South Asia, IFC. The funding will help promote market competitiveness while accelerating economic recovery from the impacts of the Covid 19 pandemic. IFC’s investment is expected to help expand NMB Bank’s SME portfolio substantially by 2025 – creating a significant number of jobs over the next five years. This loan amount will be utilised to support the Government of Nepal’s growth plans and will be invested in strengthening the priority sector industries, especially SME/MSMEs. 'The Banker Magazine’ of The Financial Times, London, has awarded NMB Bank with the prestigious Bank of the Year Asia 2021. The bank has also been awarded Bank of the Year in 2017, 2018, 2020 and 2021. NMB Bank is currently providing its services through 201 branches, 138 ATMs and 11 extension counters. READ ALSO:

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