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NMB Bank approved with a loan of USD 100 million from DFC
Published On: October 20, 2022 10:54 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, OCT 20: The US International Development Finance Corporation (DFC) has approved USD 100 million direct loan to NMB Bank to support the bank to financing MSMEs in Nepal.
NMB Bank is the first ever bank in Nepal to bring the international funding to the productive and priority sector of Nepal. The DFC’s financing is also expected to help the bank by availing it with loanable fund amid ongoing liquidity crisis in the Nepal’s banking sector.
The partnership of NMB Bank and the DFC will assist the MSME ecosystem of Nepal in creating sustainability through entrepreneurship focusing women as priority, thus, generating employment and livelihood opportunities.
NMB Bank has already on-boarded nine development finance institutions (DFIs) including DFC for a total borrowing size of USD 301.50 million directed towards hydropower, renewable energy, agriculture and small and medium enterprises, reads a press release.
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