February 18: Aloi Private Limited, a platform dedicated to lending to emerging market green micro-entrepreneurs through verified merchants, and Kumari Bank Limited announced the signing of a Memorandum of Understanding (MoU) on February 15 to facilitate green financing.

As per the MoU, the two organisations will explore, evaluate, cooperate, and potentially work towards initiating and upscaling sustainable and green financing through digital financial literacy programs.

The MoU signifies a strategic partnership aimed at digitizing green and sustainable financing, with an initial focus on digital financial literacy workshops, reads a joint statement issued by the organisations. Under this collaboration, Kumari Bank and Aloi Private Limited will work together to provide digital financial literacy workshops to MSMEs in the agricultural sector.

As per the statement, the agreement was formalized through the signing ceremony attended by Arpan Paudel, the Transaction Banking Head of Kumari Bank, and Sonika Manandhar, CTO/Co-Founder and Tiffany Tong CEO/Co-Founder of Aloi.

The association said it will focus on bridging the gap in micro-business loans, catering to entrepreneurs who require more financing than microfinance can provide but cannot access commercial bank loans.