Kathmandu, Dec. 5
Nepal Bank Limited (NBL) has signed an agreement with the Exim
Bank of India to support trade activities related with India by providing loans
and guarantees.
The agreement, signed on November 7 this year, aims to fill
the market gaps of trade finance, the bank said in a statement on Tuesday.
NBL is also the first government-run bank to be a partner of the
Exim Bank, to support the import transactions with India. "The signing
comes after exhaustive discussions with the senior management of both banks in
the areas of Nepal Bank’s financials, governance, risk and compliance and
ongoing trade transactions between the two countries," read the statement.
“We are delighted to have a trade agreement with the EXIM
Bank India, and look forward to utilise the programme in supporting the trade
activities of our customers. We further plan to explore the key areas of collaboration
with the Exim Bank," said Samata Pant, Acting Chief Executive Officer of
the bank.
Published in The Rising Nepal daily on 6 December 2023.
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