Agreement between Nepal Bank & ADB under ‘Trade and Supply Chain Finance Program’
Nepal Bank has entered into an agreement with ADB under ADB's Trade and Supply Chain Finance Program (ADB TSCF).
KATHMANDU: Nepal Bank Limited has signed an agreement with the Asian Development Bank to enhance business financing capacity.
Nepal Bank has entered into an agreement with ADB under ADB’s Trade and Supply Chain Finance Program (ADB TSCF).
According to Nepal Bank, the program will promote foreign trade and development by giving business loans and other financial assistance.
More than 60% of trade support worth at more than $7.7 billion was provided by ADB TSCF through more than 10,000 commercial transactions in 2022, with small and medium-sized firms.
The first bank in Nepal has partnered with Nepal Bank Limited Bmd to become the country’s first government bank.
According to Laxman Paudel, the bank’s Chief Credit Officer, the agreement with ADB was feasible after thorough discussions and collaboration in the primary areas of Nepal Bank’s financial status, corporate governance, risk, and compliance.
Steven Beck, Head of PADB TSCF, and Laxman Paudel, Chief Credit Officer of Nepal Bank, signed the agreement.
Chief Executive Officer Krishna Bahadur Adhikari said at the event, “We are happy to enter into a trade financing agreement with the Asian Development Bank and we are looking forward to increasing our presence among small and medium-sized businesses to support our customers’ business activities and avail credit facilities.”
Arnaud Heckman, head of ADB Nepal Resident Mission, was present at the ceremony.
