Nepal Investment Bank bags ‘Award of Recognition’
Aug 1, 2020 under Business/Economy 516
KATHMANDU: Nepal Investment Bank Ltd (NIBL) has bagged an ‘Award of Recognition’ from International Financial Corporation (IFC), a member of the World Bank Group, for ‘2019 Best Partner in Low Income IDA Countries, South Asia’, for maximum volume of trade finance from Nepal under Global Trade Finance Programme (GTFP).
IFC partnered with NIBL to promote trade finance in Nepal to enable the bank to enhance its support for local enterprises and help boost international trade opportunities, as per a media release.
IFC’s trade finance support enabled the country’s corporate and small and medium enterprise sector to increase their share of global trade and get recognised by a wider range of correspondent banks globally. The network facilitates transactions in challenging markets, promotes competitive financing, and builds correspondent bank relationships with new institutions at low risk.
A version of this article appears in e-paper on August 1, 2020, of The Himalayan Times.
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