Kathmandu, Oct. 20
International Development Finance Corporation (DFC) of
the United States of America has approved USD 100 million (Rs. 13.2 billion) direct
loan to NMB Bank, the largest of its kind for a Nepali bank to cater to the
financing need of Micro small and medium enterprises in Nepal (MSMEs) in Nepal.
NMB Bank-DFC partnership will assist the MSME
ecosystem of Nepal in creating sustainability through entrepreneurship focusing
women as priority, thus, generating employment and livelihood opportunities,
the bank said in a statement on Thursday.
NMB Bank said that it is the first ever bank in Nepal to
bring the international funding to the productive and priority sector of Nepal.
Also, after the onset of current liquidity gap, the bank expects to contribute
to the financial needs of the economy.
NMB Bank has already on-boarded nine development
finance institutions (DFIs) including DFC for total borrowing size of US$
301.50 million directed towards hydropower, renewable energy, agriculture and
small and medium enterprises.
DFC is America’s development finance institution that partners
with the private sector to finance solutions to the most critical challenges
facing the developing world. DFC invests across sectors including energy,
healthcare, critical infrastructure, and technology as well as small businesses
and women entrepreneurs in order to create jobs in emerging markets.
Published in The Rising Nepal daily on 21 October 2022.
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