Global IME Bank Limited and the International Finance Corporation (IFC), a member of the World Bank Group, have entered into a strategic agreement aimed at fortifying risk management capabilities and fostering inclusive finance initiatives.
Under the agreement, IFC will extend advisory services to Global IME Bank across diverse risk management domains. These services will encompass bolstering the operational risk management framework, establishing resilient risk control systems, developing credit approval scoring models, designing robust stress testing mechanisms, and providing high-caliber training and development opportunities for the bank's personnel.
Moreover, IFC will collaborate with the bank to proactively tackle climate finance and gender finance challenges, which hold significant importance both locally in Nepal and globally. Through this partnership, the bank aims to enhance its understanding of climate finance principles, evaluate energy efficiency in manufacturing sectors, and deepen its engagement in gender finance, thereby facilitating better access to financial resources and skill enhancement for women entrepreneurs.
The advisory services are anticipated to play a pivotal role in enhancing the bank's information infrastructure and decision-making processes. Emphasis will be placed on automating various credit assessment systems and tools, thereby aligning the bank's credit management practices with international standards.
IFC will deploy a dedicated team of global experts specialized in their respective fields to provide tailored advisory services to the bank. These services will be delivered through a combination of virtual interactions and on-site visits, ensuring comprehensive support to the bank's initiatives.
It is noteworthy that IFC has a successful track record of providing similar advisory services to banks in various countries, including Vietnam, Sri Lanka, and India.
