Nepal Bank Limited has signed a pivotal agreement with the Asian Development Bank (ADB) as part of ADB's Trade and Supply Chain Finance Program (ADB TSCFP). This initiative focuses on supporting international trade and development by providing loans and guarantees for trade financing. In 2022, ADB TSCFP facilitated trade transactions totaling over $7.7 billion, with more than 60% dedicated to small and medium-sized businesses.
The agreement was signed by Mr. Steven Beck, Head of ADB TSCFP, and Mr. Laxman Poudel, Chief Credit Officer of Nepal Bank Limited, in the presence of Mr. Krishna Adhikari, CEO of Nepal Bank Limited. Mr. Adhikari expressed his excitement about this partnership, emphasizing the bank's commitment to aiding MSMEs in expanding their international trade activities. The signing ceremony was also attended by Mr. Arnaud Heckmann, Officer in Charge at ADB Nepal Resident Mission, highlighting the significant impact this collaboration will have on Nepal's economic development and trade growth.
