January 31: NMB Bank has signed a Memorandum of Understanding (MoU) with a foreign investment company, One to Watch, for arranging bridge financing facility to companies awaiting foreign investment in Nepal.

Issuing a press statement, the investment company said that the signatories will work together to meet the financial requirements of investee companies awaiting foreign investments, under a bridge finance arrangement.

According to the statement, One to Watch will take on the role of identifying entities with viable investment opportunities and provide linkages to them for financing from foreign investment while NMB Bank shall provide bridge financing facilities for the investee companies of One to Watch for an interim period before the approval of foreign investment.

Willem Grimminck, managing director of One to Watch, and Sunil KC, CEO of NMB Bank, signed the agreement amid a function in Kathmandu on Wednesday, January 30.

“The collaboration is aimed at bridging the interim financial gap present due to the timeline involved in obtaining regulatory approvals for foreign investment,” the statement read.