June 6, 2023, Tuesday
Nepal 1:37:26 pm

NMB Bank to receive $100 Million to enhance MSME ecosystem

The Nepal Weekly
October 24, 2022

U.S. International Development Finance Corporation (DFC) has approved USD 100 million direct loan to NMB Bank Ltd., a largest of its kind for Nepalese bank to cater the financing need of MSMEs in Nepal.

NMB Bank – DFC partnership will assist the MSME ecosystem of Nepal in creating sustainability through entrepreneurship focusing women as priority, thus, generating employment and livelihood opportunities. NMB Bank is the first ever bank in Nepal to bring the international funding to the productive and priority sector of Nepal. Also, on the onset of current liquidity gap, the bank expects to contribute to the financial needs of the economy. NMB Bank has already on-boarded nine development finance institutions (DFIs) including DFC for total borrowing size of USD 301.50 million directed towards hydropower, renewable energy, agriculture and small and medium enterprises.

NMB Bank Limited is an “A” class financial institution that has been operating in the Nepalese financial market for 26 years and is one of the leading commercial banks in the country. In recognition of its continued commitment towards sustainable banking practices, digitization, and corporate governance, the bank has been awarded the prestigious Bank of the Year 2021, Asia award – the first bank in Nepal to win such an award. In addition to being adjudged the regional winner for Asia in 2021 by The Banker Magazine, London, UK, NMB Bank has been adjudged the country level winner of the Bank of The Year awards in 2017, 2018, 2020, and 2021. Similarly, U.S. International Development Finance Corporation (DFC) is America’s development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DFC invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.