NMB Bank Gets Approval From NRB For IFC Loan

NMB Bank becomes the first bank to receive approval from NRB for USD loan from International Finance Corporation (IFC).

July 24, 2018, 9:19 a.m.

NMB Bank becomes the first bank to receive approval from NRB for USD loan from International Finance Corporation (IFC).

NRB approval follows the sanction of the loan from IFC after a thorough review of the Bank, its plans and its capabilities. A team from IFC visited the Bank in April 2018 for a detailed study of the Bank, its books including its plans and projections plus its expertise to mobilize the allocated funds.

According to press release issued by the Bank, the fund is the first of its kind to support the Government of Nepal’s growth plans and shall be invested in strengthening the infrastructure including Hydropower Plants, Transmission Lines, Highways, Tunnels, Large Airports, Cable Cars, Bridges, Agriculture, and Microfinance etc. Through this IFC borrowing, NMB is setting precedence in the industry. The bank is also working to bring in more of such funds from other International Financial Institutions.

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