NMB Bank signs loan mandate with IFC

KATHMANDU: NMB Bank Ltd has signed a mandate with IFC, a member of the World Bank Group, for loan.

Issuing a press statement on Monday, officials of NMB Bank said that the agreement was signed between Sunil KC, chief executive officer of NMB Bank, and Mohammad Rehan Rashid, resident representative of World Bank. The loan from IFC is subject to pending approval from Nepal Rastra Bank (NRB).

The IFC loan is expected to bring respite to current liquidity situation, the bank said in a statement.

The said loan shall be mobilised primarily to support MSME/SME and agribusinesses, as per the statement.