NMB Bank collaborates with IFC to promote SME financing in Nepal

KATHMANDU

NMB Bank Limited has obtained a repeat loan of USD 25 Million from 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 Mr. Sunil KC, Chief Executive Officer, NMB Bank Limited and Mr. 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.

‘The Banker Magazine’ of The Financial Times, London, has awarded NMB Bank with the prestigious Bank of the Year Asia 2021. The bank has also been awarded with Bank of the Year in 2017, 2018, 2020 & 2021. NMB Bank is currently providing its services through 201 branches, 138 ATMs and 11 extension counters.

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