NIC Asia signs mandate letter for long-term loan with IFC

Published On: April 10, 2018 10:14 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, April 10: NIC Asia Bank Ltd and International Finance Corporation (IFC), a member of the World Bank Group, has exchanged a mandate letter for long-term loan. The loan from IFC is subject to approval from the Nepal Rastra Bank (NRB).

Issuing a statement on Tuesday, the commercial bank said that it has exchanged a mandate letter with international banks and financial institutions to secure a long term borrowings for facilitating credit growth in priority sectors. The statement further mentioned that the loan obtained from IFC shall be mobilized in extending credit to productive sectors designated by the NRB.

The bank is operating with a network of 192 branch offices, 195 ATMs, four extension counters and four branchless banking outlets across the country, according to the statement.      

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