DFC approves $100m direct loan to NMB Bank

KATHMANDU: US International Development Finance Corporation (DFC) has approved $100 million direct loan to NMB Bank, the largest of its kind for Nepali banks to cater for the financing needs of micro, small and medium enterprises (MSMEs) in Nepal. NMB Bank's partnership with DFC will assist the MSME ecosystem of Nepal in creating sustainability through entrepreneurship focusing on women as priority, thus, generating employment and livelihood opportunities. NMB Bank is the first ever bank in Nepal to bring international funding to the productive and priority sector of Nepal. Also, at the onset of the current liquidity gap, the bank expects to contribute to the financial needs of the economy. NMB Bank has already brought on board nine development finance institutions (DFIs) including DFC for a total borrowing size of $301.50 million directed towards hydropower, renewable energy, agriculture and SMEs. NMB Bank is an “A” class financial institution that has been operating in the Nepali financial market for 26 years and is one of the leading commercial banks in the country. In recognition of its continued commitment towards sustainable banking practices, digitisation, and corporate governance, the bank has been awarded the prestigious Bank of the Year 2021, Asia award. In addition to being adjudged the regional winner for Asia in 2021 by The Banker Magazine, London, UK, NMB Bank has been adjudged the country-level winner of the Bank of The Year awards in 2017, 2018, 2020, and 2021. US International Development Finance Corporation (DFC) is America’s development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DFC invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. READ ALSO:

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