Kathmandu, 12 August: NMB Bank Limited has obtained a repeat loan of USD 25 Million from International Finance Corporation (IFC), a member of the World Bank Group. With this agreement, NMB Bank becomes 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 MOU has been exchanged between Sunil KC, Chief Executive Officer, NMB Bank Limited and Hector Gomez Ang, Regional Director South Asia, International Finance Corporation. 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 significant number of jobs over the next five years.
This loan amount shall be utilized to support the Government of Nepal’s growth plans and shall be invested in strengthening the priority sector industries, especially SME/MSMEs.
People’s News Monitoring Service
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