1st October 2024, Kathmandu
As the only international bank in Nepal, contributing to increasing financial access through the help of our global network has been one of the focus areas for SCBNL. SCBNL has partnered with CLBSL, a leading microfinance institution in Nepal, in collaboration with ADB under an unfunded risk participation agreement.
SCBNL Partner ADB With Chhimek Laghubitta
This partnership is the first of its kind in Nepal and this loan is expected to help enable financial access in rural areas to provide credit for income-generating endeavors and foster economic growth in marginalized communities.
The signing ceremony held today represented by senior participants included the Country Director (CD) and international delegates from ADB, the management team from CLBSL, and, the Chief Executive Officer (CEO), Deputy CEO, and senior Financial Institutions (FI) team members from SCBNL. Arnaud Cauchois, ADB’s CD, Nepal mentioned, “I am pleased to note the launch of ADB’s Microfinance Program (MFP) in Nepal, under the Bank’s private sector operations. I am convinced that the MFP will help promote financial inclusion and reduce gender disparities by providing financing solutions to the poor and marginalized women, which is one of ADB’s priorities in the country, through CLBSL, as the first partner institution under MFP.” ADB Director General for Private Sector Operations, Suzanne Gaboury, said that “we can tackle poverty at its roots and create opportunities that uplift communities through collaboration and innovative strategies. ADB is pleased to expand its partnership with SCBNL to support microfinance institutions in Nepal through its private sector operations’ Microfinance Program. As the first transaction, ADB has supported SCBNL’s financing to CLBSL, one of Nepal’s largest Micro Finance Institutions (MFIs), which will benefit over 5,000 women micro borrowers.”
Deepak Nidhi Tiwari, CEO of CLBSL in his address, mentioned, “The use of funds has been targeted around initiatives that boost self-employment activities in marginalized communities situated in rural Nepal and consumer protection is a major focus area around all activities included in this program”. Anirvan Ghosh Dastidar, CEO SCBNL in his concluding remarks, thanked the audience and mentioned, “SCBNL is committed to making the best use of our international network for innovative ideas that could benefit communities we operate in. We look forward to similar partnerships that pave the way for innovative financing tools shortly”.
Standard Chartered Bank Nepal Limited (SCBNL)
The Bank enjoys the status of the only international bank currently operating in Nepal. It is also the only Bank in Nepal accredited with an ICRANP-IR AAA rating by ICRA Nepal as the safest bank for the timely servicing of financial obligations. The Bank was reaffirmed with the AAA Rating for the fifth time this year.
SCBNL is a leading international banking group, with a presence in 60 of the world’s most dynamic markets and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
SCBNL is listed on the Nepal Stock Exchange.