Standard Chartered, Unilever sign market-first Supply Chain Financing Solutions Agreement

KATHMANDU

Standard Chartered Bank Nepal Limited and Unilever Nepal Limited have signed an agreement to provide Supply Chain Financing solutions to the dealers of Unilever Nepal. Under this program, recommended dealers of Unilever Nepal can avail of trade financing solutions from SCB Nepal (subject to approval by the Bank). The Bank’s Supply Chain Financing proposition is designed to help the SME entities (Dealers) in availing efficient financing that covers their entire working capital cycle which can help the dealers ensure their financial sustainability especially during the challenging period triggered by pandemic, liquidity etc.

Similarly, it will also help the large corporates (Anchors) to implement more sustainable and resilient supply chains. With over 150 years of experience in facilitating transaction banking business globally, Standard Chartered Bank is a major provider of International Trade & Supply Chain Financing solution. Following the signing ceremony, Anirvan Ghosh Dastidar, CEO of SCB Nepal, said “The Bank is delighted to be able to introduce first-of-its-kind initiative in the country for Unilever Nepal. We have come a long way in our digital journey to ensure a holistic ecosystem for our corporate clients and look forward to introducing more pioneering solutions in future.”

On the occasion, Amlan Mukherjee, MD of UNL, said “The Distributor Financing Program has enabled UNL unlock growth especially in challenging economic conditions and in return helped us serve our consumers consistently with brands that add vitality to life. Distributor Finance Programs have been a source of growth in developing markets, and we are very excited that we’ve been able to develop a model that suits our customers value chain.” This agreement has been commended as opportune/well-timed – especially for SM.

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