KATHMANDU, March 27: NMB Bank Ltd has signed a loan mandate with IFC -- a member of the World Bank Group.
Issuing a statement, the commercial bank said that the mandate was exchanged between NMB Bank's CEO Sunil KC and Mohammad Rehan Rashid, the World Bank's Country Representative for Nepal, amid a program held in Kathmandu on Monday. “The loan from IFC is subject to receiving approval from the Nepal Rastra Bank,” read the statement. “The IFC loan is expected to bring in respite to current liquidity environment,” the statement added. According to NMB Bank, it will mobilize the loan primarily to support MSME/SME and agribusinesses.