KATHMANDU: NMB Bank has become the first bank in Nepal to secure $15 million debt investment from CDC Group. CDC Group plc is the UK’s development finance institution.
Wholly owned by the UK government, it invests in sub-Saharan Africa and South Asia with the aim of supporting economic development to create jobs. The debt investment by CDC follows thorough review of the bank, its plans and its capabilities.
A team from CDC visited the bank for a detailed study of the bank, its books including its plans and projections plus its expertise to mobilise the allocated funds. Amidst the tight liquidity situation, the said fund shall help ease lending in sectors of sustainable growth including infrastructure, agriculture, micro-lending and foreign currency earning sectors such as tourism and hydro projects, which are also aligned with CDC’s key investment sectors, the bank said.
A version of this article appears in print on February 14, 2019 of The Himalayan Times.