DFI Mission boosts Nepal’s financial sector development

KATHMANDU: Invest for Impact Nepal successfully organised the second DFI Mission in Kathmandu on Tuesday, bringing together 30 delegates from 10 Development Finance Institutions (DFIs) and four impact investors.

The event titled 'Accelerating DFI Investments in Nepal's Financial Service Industry', presided over by Finance Secretary Madhu Kumar Marasini, welcomed participants from diplomatic missions, regulators, and representatives from Class A, B, and D banks, as well as the digital financial service industry, private sector associations, and private equity funds.

The technical sessions at the event centred on the growth of Nepal’s financial services industry and underscored the crucial role of DFIs. The International Finance Corporation (IFC) delivered a comprehensive presentation on promoting growth in Nepal’s financial sector.

This was followed by a panel discussion featuring Samir Abhyankar (Managing Director and Head of Financial Services Group, BII), Pieter Gorgels (Manager FI Asia, FMO), Santosh Koirala (Vice President, Nepal Bankers’ Association), Ashok Sherchan (CEO, Prabhu Bank), and Babacar S Faye (Resident Representative, IFC). The session was chaired by Maha Prasad Adhikari, Governor of Nepal Rastra Bank.

In addition, two deal facilitation sessions were held, involving Class B banks and microfinance institutions, with significant participation from 12 microfinance institutions and eight national-level development banks.

The event concluded with a networking dinner, offering a platform for productive interactions among representatives from various financial institutions, funds, associations, delegates, and regulators, fostering promising collaborative initiatives in Nepal’s financial landscape.