May 19: The Investment Board Nepal (IBN) has signed a Memorandum of Understanding (MoU) with Nabil Bank in order to promote foreign investment and business partnership in the country.

Chief Executive Officer of IBN Sushil Bhatta and CEO of Nabil Bank Anil Keshari Shah signed the MoU on behalf of their respective organisations amid a programme on Wednesday.

As per the agreement, the two organisations have decided to give special emphasis to foreign direct investment (FDI) channeling and Sustainable Financing Opportunities.

The MoU states that the Investment Board will coordinate and cooperate in attracting foreign investors to invest in Nepal by sharing information on prospective projects in the country and by organizing joint programmes to promote investment.

Addressing the signing ceremony at IBN’s office, CEO of the board Sushil Bhatta said that the strategic partnership between the board and the bank will help develop a culture of cooperation in the future. He further informed that the board has been developing Management Information System (MIS) and website-based one-stop service (OSS) for the convenience of the investors.

Similarly, Nabil Bank’s Vice Chairman Upendra Prasad Poudel praised the role of IBN in sustainable development of Nepal and urged the board to take into consideration the environmental and social aspects while developing projects in the future.

Meanwhile, CEO of Nabil Bank Anil Keshari Shah said that the agreement between the bank and the board would help create plenty of opportunities for foreign investment in Nepal.