KATHMANDU, DECEMBER 15
CDC Group (soon to become British International Investment), the UK’s development finance institution, has announced a $25 million loan to Global IME Bank Ltd (GIME), one of the largest commercial banks in Nepal.
CDC’s commitment will enhance GIME’s ability to provide credit to businesses across key economic priority sectors and stimulate economic opportunities throughout the country, as per a press statement.
The facility will also help address funding gaps in the market by strengthening GIME’s capacity to increase lending to businesses in key economic sectors, such as infrastructure, manufacturing, agriculture, and tourism.
A version of this article appears in the print on December 16, 2021, of The Himalayan Times.