Kathmandu, January 27:

Kist Merchant Banking & Finance Ltd (KMBFL) has appointed Puskar Shah, a Nepali world cyclist, as its brand ambassador and agreed to provide financial assistance of Rs 847,950.

To this effect, a tripartite agreement has been signed between KMBFL, Shah and the World Cyclist Foundation on Friday. Kamal Prasad Gyawali, managing director of KMBFL, cyclist Shah and Yuvakar Rajkarnikar, president of the foundation signed the agreement. As per agreement, the finance company will provide financial support to meet Shah’s travel expenses for the next journey as well as ‘life shield insurance’.

Shah, as the brand ambassador of KMBFL, would have to request Nepali nationals that he meets in the countries of his journey to send remittances through the Kist Finance.

Shah, 38, a native of Makaibari VDC in Dolakha district, who set out on a world bicycle tour in 1999, has so far visited over 100 countries promoting Nepal, brotherhood and peace. He is all set to start a journey of 50 more countries next week.

Shah has set a target of completing the next phase of the world tour in three years from now. He plans to conclude his mission with after visiting and collecting the national flags of 150 countries, he has traveled in the course of his world tour. He finally intends to place these on top of the Mt Everest.

Meanwhile, Nepalese Young Entrepreneurs Forum (NYEF) has also appointed cyclist Shah as a goodwill ambassador to spread the message of peace and promote Nepal’s economic activities, including tourism.

Saurabh Jyoti, president of FNCCI-promoted NYEF, handed over a letter of goodwill to Shah on Friday.