SCBNL & ADB partner with CLBSL

KATHMANDU: As the only international bank in Nepal, contributing to increasing financial access through the help of our global network has been one of the focus areas for SCBNL.

SCBNL has partnered with Chhimek Laghubitta Bittiya Sanstha Limited (CLBSL), a leading microfinance institution in Nepal, in collaboration with ADB under an unfunded risk participation agreement.

This partnership is the first of its kind in Nepal and this loan is expected to help enable financial access in rural areas to provide credit for income generating endeavours and fostering economic growth in marginalised communities.

The signing ceremony held today represented by senior participants included the Country Director (CD) and international delegates from ADB, the management team from CLBSL, and, the Chief Executive Officer (CEO), Deputy CEO and senior Financial Institutions (FI) team members from SCBNL.

Arnaud Cauchois, ADB’s CD, Nepal mentioned, “I am pleased to note the launch of ADB’s Microfinance Program (MFP) in Nepal, under the Bank’s private sector operations. I am convinced that the MFP will help promote  financial inclusion and reduce gender disparities by providing financing solutions to the poor and marginalised women, which is one of ADB’s priorities in the country, through CLBSL, as the first partner institution under MFP.” ADB Director General for Private Sector Operations, Suzanne Gaboury, said that “we can tackle poverty at its roots and create opportunities that uplift communities through collaboration and innovative strategies. ADB is pleased to expand its partnership with SCBNL to support microfinance institutions in Nepal through its private sector operations’ Microfinance Program. As the first transaction, ADB has supported SCBNL’s financing to CLBSL, one of Nepal’s largest Micro Finance Institutions (MFIs), which will benefit over 5,000 women micro borrowers.”

Deepak Nidhi Tiwari, CEO CLBSL in his address, mentioned, “the use of funds has been targeted around initiatives that boosts self-employment activities in marginalised communities situated in rural Nepal and consumer protection is a major focus area around all activities included in this program”. Anirvan Ghosh Dastidar, CEO SCBNL in his concluding remarks, thanked the audience and mentioned, “SCBNL is committed to making the best use of our international network for innovative ideas that could benefit communities we operate in. We look forward to similar partnerships that pave way for innovative financing tools in the near future”.