Kathmndu, Sept. 1
Nepal Bank Limited has signed an agreement with the Asian
Development Bank (ADB) under the latter's Trade and Supply Chain Finance
Program (ADB TSCFP) that supports international trade and development by
providing loans and guarantees to address the need for trade financing.
NBL said in a statement on Friday that it has been
providing a credit line to support import transactions from over 200 countries.
The signing comes after extensive due diligence and discussions in core areas
of the Nepal Bank’s financials, corporate governance, risk, and compliance,
said Prakash Kumar Adhikari, Spokesperson of the bank.
In 2022, ADB TSCFP supported trade exceeding US$ 7.7
billion through more than 10,000 transactions, of which over 60% was linked to
small and medium sized businesses.
The agreement is signed Steven Beck, Head of ADB TSCFP
and Laxman Poudel, Chief Credit Officer from NBL
Krishna Adhikari, CEO of NBL, said that the bank looks
forward to utilising the credit line to support the trade activities of our
customers as we further grow our presence among micro-small and medium
enterprises.
Published in The Rising Nepal daily on 2 September 2023.
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