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Kumari Bank and USAID Trade and Competitiveness Sign LOC to Extend Banking Facilities to SME, MSME Segment

Kumari Bank and USAID Trade and Competitiveness Sign LOC to Extend Banking Facilities to SME, MSME Segment


Kumari Bank Limited signed a Letter of Cooperation (LOC) with USAID Trade and Competitiveness, laying a foundation for over three years for effective collaboration in different activity areas.

Under this LOC, USAID Trade and Competitiveness will share technical expertise with the Bank in developing innovative solutions towards sustainable broad access to finance in focus sectors (SMEs, MSMEs). The Bank, in turn, will offer tailored packaged business solutions with financial preparedness delivered through its branch outlets and online medium.

The Bank has set a target to help 10,000 new SMEs, MSMEs as “Banking/ Credit Ready” SMEs, MSME in the Fiscal Year 2080/81 and will be providing credit facilities to 1,000 deserving female entrepreneurs who are identified through this program.

The LOC was signed by Mr. Ramesh Raj Aryal, Chief Executive Officer, Kumari Bank and Ms. Agnes Luz, Chief of Party, USAID Trade and Competitiveness.

USAID Trade and Competitiveness is a five-year activity that aims to chart a new path of growth for the Nepali economy as it recovers from the COVID-19 pandemic. The activity helps Nepal capitalize on global integration by diversifying its economy toward higher quality and value exports, fostering sustainable job growth and income-generating opportunities for those previously left behind by economic growth, and creating greater sustainability and resiliency.

Kumari Bank Limited, for over past two decades has been serving its customers with innovative and effective products and services. The Bank has pioneered in providing modern banking services like Internet Banking and Mobile Banking. Through its network of 302 branches, 48 ​​extension counters, 63 branchless banking units and 296 ATMs across the country, Kumari Bank Limited strives towards meeting the dynamic needs of its customers by delivering innovative and technologically advanced banking facilities in a simpler and convenient manner.

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