Kathmandu- NMB Bank Limited has taken a significant step toward its goal of becoming Nepal's most sustainable bank by signing two crucial agreements on September 23, 2024.
The first agreement involves a Letter of Interest for US$ 20 million with the Dutch Fund for Climate and Development (DFCD). This funding will also provide technical assistance for developing and financing large-scale solar and agriculture projects in Nepal.
The second agreement is with FMO, the Dutch Entrepreneurial Development Bank, to provide technical assistance in assessing the sustainability of hydropower projects through the Hydropower Sustainability Alliance, an international standard-setting body.
In light of the Nepal Electricity Authority's recent tender for 800 MW of grid-connected solar power projects, NMB Bank aims to support its clients in the solar and agriculture sectors with both financial backing and international technical advisory services to ensure sustainable project implementation.
Additionally, as part of its commitment to responsible banking, NMB Bank plans to integrate environmental and social sustainability into its hydropower projects by adopting internationally recognized sustainability assessments. The bank aims to achieve Hydropower Sustainability Standard certification for its projects, ensuring positive outcomes for local communities and the environment.
NMB Bank believes these initiatives will help position Nepal’s energy sector as a sustainable and attractive option for international investors, opening doors for global investments in the country.
