GIBL & IFC sign accord for advisory services on risk management, gender & climate finance

KATHMANDU: Global IME Bank Limited and the World Bank Group’s International Finance Corporation (IFC) have signed a memorandum of understanding (MoU) to provide advisory services in risk management, climate finance, and gender finance sectors.

The MoU, signed between Ratnaraj Bajracharya, Chief Executive Officer of Global IME Bank Limited, and Mehdi Chekroun, South Asia Regional Advisor and Upstream Manager at IFC, aims to strengthen the bank’s risk management framework, international risk management practices, and provide guidance on risk management policies at the international level.

Under this agreement, the IFC will provide advice on strengthening Global IME Bank’s risk management, operational risk, market risk, and asset and liability management frameworks, aligning the bank’s risk management policies with international standards, and conducting capacity-building programs to enhance the bank’s risk management capabilities.

Moreover, the IFC will also implement capacity-building programs to enhance climate finance literacy and build capacity in climate smart agriculture and solar projects to increase access to climate finance in Nepal and mitigate the impact of climate change.

Additionally, the IFC will provide specialized advice on various climate finance areas, including clean transportation, climate-smart agriculture, and solar projects, to increase access to climate finance and reduce the impact of climate change in Nepal.

The Bank is confident that REFC’s consultation under this agreement will add a new dimension to risk management, gender finance and climate finance in Nepal.

Global IME Bank is the first commercial bank in the private sector with a network of branches in every district of the country.

The bank has more than 1,100 service centers including 354 branch offices, 379 ATMs, 277 branchless banking services, 67 extension and revenue collection counters and 3 foreign representative offices.

By making Global IME Bank a bank for everyone, the bank is expanding by providing excellent services to its more than 4.6 million customers through various services and facilities.

The bank plays a crucial role in the country’s economy by facilitating remittances from various countries including the United States of America, United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, India, Jordan, Hong Kong, and others.