IFC close to extending up to $10m loan to Nepal's NIC Asia Bank

IFC close to extending up to $10m loan to Nepal's NIC Asia Bank

Patan Durbar Square, Patan, Nepal. Photo: Shaouraav Shreshtha, Unsplash

The International Finance Corporation (IFC), a member of the World Bank Group, is proposing to extend a loan up to $10 million to NIC Asia Bank, the third largest private sector commercial bank in Nepal in terms of asset size.

The proposed financing will help NIC Asia Bank support the working capital needs of its clients, especially small and medium enterprises (SMEs) in key sectors within Nepal’s economy, IFC said in a disclosure.

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