Nabil Bank is listed on the USDA under the Export Credit Guarantee Program GSM-102

KATHMANDU: MAY. 7 – Nabil Bank has reached an agreement with the US Department of Agriculture (USDA) to participate in the USDA’s export credit guarantee program GSM 102.

Following a rigorous Due Diligence Audit by the USDA office, Nabil Bank is the first and only bank from Nepal to be listed under this program.

Nabil Bank will benefit from USDA Export Credit Guarantee line limits as a result of this arrangement.

Nabil Bank’s Letters of Credit issued on behalf of its customers to import goods under the USDA program will no longer require third-party confirmation.

Furthermore, under this arrangement, US exporters can obtain financing from US banks using an underlying irrevocable Letter of Credit issued by Nabil Bank.

Getting listed under the Export Credit Guarantee Program of the United States’ state-run organization, USDA (United States Department of Agriculture), is another step forward for Nabil Bank in its efforts to expand its international reach and recognition on a global scale.

Nabil Bank Limited was established in 1984 AD as the country’s first private sector bank.

The Bank offers a full range of commercial banking services, including branch banking, treasury, trade, cards, remittance, and investment banking.

The bank has 148 branch offices, 187 ATMs, numerous POS terminals, remittance agents across the country, and over 170 international correspondent banking relationships.