Nepal Investment Bank Ltd. signed a loan agreement with World Bank Group member International Finance Corp. to support priority sector industries, The Himalayan Times reported May 23, citing a press release.
The loaned funds will be used to support the priority sectors defined by Nepal Rastra Bank. The loan from IFC is still pending regulatory approval from the central bank.
Nepal Investment Bank is also collaborating with IFC for a trade finance facility of up to US$5 million that would help support local enterprises and boost international trade opportunities.
