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Om Signs Agreement with German Bank

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Om Signs Agreement with German Bank
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October 26: Om Development Bank has signed an agreement with Germany’s KFW Development Bank for mutual cooperation. The agreement was signed for taking loan assistance for sustainable economic development upon the approval from the Ministry of Finance and Nepal Rastra Bank, reads a press statement issued by the bank. MoF Joint Secretary Lal Bahadur Khatri, NRB Executive Director Upendra Poudel, Om Development Bank’s CEO Bishwamohan Adhikari and KFW Development Bank’s representative signed the agreement amid a function on Wednesday, October 25. As per the agreement, the German bank will provide Om loan of Rs 200,000 to 4 million for investment in the small and medium scale businesses in certain areas for a period of ten years. 

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