MoU between Siddhartha Bank & IFC

KATHMANDU: Siddhartha Bank Limited has entered into an agreement with the International Finance Corporation (IFC) to enhance capacity in risk management, gender equality, digital initiatives, and climate finance sectors.

The bank aims to prioritize governance in administration while aligning its overall strategies towards environmental sustainability and social development.

The agreement underscores Siddhartha Bank’s commitment to strengthening its capacity and fostering sustainable practices by leveraging international best practices and following global standards.

It also aims to fortify the bank’s capabilities in the mentioned sectors, aligning with its goal of achieving robust and sustainable growth to attain its objectives further.

IFC, as a member of the Global Trade Finance Program, previously honored Siddhartha Bank with the ‘Best Operations Bank in South Asia 2021’ award during the 10th Global Trade Awards.

Additionally, Siddhartha Bank and IFC had previously signed an agreement to invest in Nepal’s Micro, Small, and Medium Enterprises (MSMEs) and climate financing, whereby IFC provided the bank with a loan of USD 55 million