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April 30: Global IME Bank Ltd and International Finance Corporation (IFC), a member of World Bank Group, have signed a loan agreement on April 26.
The agreement was signed by Chief Executive Officer of Global IME Bank, Janak Sharma Poudyal and Mohammed Rehan Rashid, resident representative of IFC.
IFC has been assisting developing countries to achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets.
IFC is also providing a trade finance facility under its Global Trade Finance Program (GTFP) to support Global IME Bank’s trade operations, the bank said in a statement. Global IME Bank further said that IFC’s guarantees will help the bank deliver trade finance to its clients in challenging markets where trade lines may be constrained.
Global IME Bank expressed its belief that this kind of initiation with IFC would open opportunities for domestic banks to borrow from international banks setting up a historic milestone in the Nepalese banking arena.
The bank informed that the loan obtained from IFC shall be mobilized in extending credit to the productive sectors of Nepal. In addition, the loan will be mobilized primarily to support MSME/SME and agribusinesses.
According to Global IME Bank, the loan from IFC will come into effect after the approval from the Central Bank of Nepal.
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
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Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
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<p>IFC has been assisting developing countries to achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets.</p>
<p>IFC is also providing a trade finance facility under its Global Trade Finance Program (GTFP) to support Global IME Bank’s trade operations, the bank said in a statement. Global IME Bank further said that IFC’s guarantees will help the bank deliver trade finance to its clients in challenging markets where trade lines may be constrained.</p>
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<p>IFC has been assisting developing countries to achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets.</p>
<p>IFC is also providing a trade finance facility under its Global Trade Finance Program (GTFP) to support Global IME Bank’s trade operations, the bank said in a statement. Global IME Bank further said that IFC’s guarantees will help the bank deliver trade finance to its clients in challenging markets where trade lines may be constrained.</p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
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Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
