Under the leadership of Chandra Prasad Dhakal, President of Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Global IME Bank is the first private sector bank in Nepal to be selected by the International Finance Corporation (IFC), a member of the World Bank Group. With the largest network in all of Nepal, IFC's $56 million investment in Global IME Bank to strengthen gender and climate finance in Nepal is likely to bring a drastic change.
By A Correspondent Feb 12, 2024
17th years ago, Chandra Prasad Dhakal founded Global IME Bank with a vision to make it a global Nepali financial brand. Today, Global IME Bank is the largest bank in Nepal with a global presence. As it celebrates its fifteenth anniversary, Global IME Bank continues to demonstrate its strength.
By A Correspondent Jan 16, 2024
Nepal has added a new, highly significant transmission project to its power sector with the formal inauguration of the 400 kV Inaruwa Substation, Nepal's second largest substation. Although the construction of the 400 kV line from Inaruwa to Hetauda has faced several obstacles and is not yet complete, the operation of this substation is important to maintain power supply in the eastern part of the region. Once the 400 kV, which has recently made progress in construction, is completed, this substation will be a game changer. As NEA Managing Director Kul Man Ghising has publicly stated that his second term will be to strengthen and expand transmission and distribution, the inauguration of the Inaruwa Substation by Prime Minister Pushpa Kamal Dahal Prachanda is of great significance.
By A Correspondent Jan 01, 2024
Despite leading a shaky coalition, Maoist Center leader and Prime Minister Pushpa Kamal Dahal Prachanda boasted of a successful year. He formed a short-lived coalition with the CPN-UML, the RPP, and the Swatantra Party before switching to the Nepali Congress. With Nepal's two largest political parties, Nepali Congress and CPN-UML, bitterly divided, Prachanda's future looks uncertain. How he will make strategic decisions in his second term remains to be seen.
By A Correspondent Dec 29, 2023
The Jajakot earthquake has served as a stark reminder of the potential for a major seismic event in Nepal and India. With a death toll surpassing 157 and over 197 injured, it is evident that the he seismologists' prediction of a large quake in the western Himalayan region is becoming more urgent. This earthquake measuring 6/4 Richter scale severely shook the Jajarkot and West Rukum districts of Nepal and also impacted large portions of northern India, including New Delhi. Indian Prime Minister Narendra Modi, being on the same continent and affected by the earthquake, was the first leader to express solidarity and offer support to Nepal.
By A Correspondent Nov 09, 2023