Laxmi Sunrise Bank partners with IFC to advance women-focused financial inclusion in Nepal

KATHMANDU: Laxmi Sunrise has entered into an advisory engagement with International Finance Corporation – the private sector arm of the World Bank Group, under its Banking on Women (BoW) Global WMSME Sex Disaggregated Data (SDD) initiative, supported by The Women Entrepreneurs Finance Initiative (We-Fi).

We-Fi is a global multi donor platform that supports among other areas the Women Entrepreneurs Finance Code (the WE-Finance Code).

The Code is a commitment by financial services providers, regulators and other financial ecosystem players to work together to increase funding provided to WMS MEs around the world, so that they can grow and add value to the economy as engines of job creation.

The agreement was signed by Sumed Bhattarai, Officiating CEO, on behalf of Laxmi Sunrise Bank and Mehdi Cherkaoui, Manager, Financial Institutions Group, Upstream and Advisory Services, IFC.

Through this collaboration, IFC will support the Bank in strengthening the collection, and use of (SDD).

This will enable deeper insights into the needs of women-owned small and medium enterprises and inform the design of more relevant financial solutions.