Kathmandu: Standard Chartered Bank Nepal Limited (SCBNL) has unveiled a collaboration with Chhimek Laghubitta Bittiya Sanstha Limited (CLBSL) and the Asian Development Bank (ADB) aimed at boosting financial access in rural regions of Nepal. This groundbreaking partnership represents the first unfunded risk participation agreement of its kind in the nation.
The initiative seeks to provide credit for income-generating ventures and promote economic development in underserved communities. A signing ceremony took place with senior officials from ADB, CLBSL, and SCBNL, including ADB’s Country Director for Nepal, Arnaud Cauchois, and SCBNL’s CEO, Anirvan Ghosh Dastidar.
Cauchois remarked, “The launch of ADB’s Microfinance Program in Nepal is designed to foster financial inclusion and diminish gender inequalities by offering financial solutions to impoverished and marginalized women, which is a key priority for us in the country.”
Suzanne Gaboury, ADB’s Director General for Private Sector Operations, underscored the significance of collaboration, stating, “Together, we can address poverty at its core and create opportunities that uplift communities. This partnership with SCBNL will aid over 5,000 women micro-borrowers through CLBSL.”
Deepak Nidhi Tiwari, CEO of CLBSL, noted that the funds will be directed towards initiatives that enhance self-employment in rural areas, while placing a strong focus on consumer protection.
Anirvan Ghosh Dastidar, CEO of SCBNL, expressed his appreciation to all attendees, reaffirming SCBNL’s dedication to utilizing its international network for innovative solutions that benefit the communities it serves.
About Standard Chartered Bank Nepal Limited (SCBNL)
SCBNL stands as the sole international bank operating in Nepal and boasts an ICRANP-IR AAA rating from ICRA Nepal, recognized as the safest bank regarding timely financial commitments. The institution has successfully maintained this AAA rating for the fifth consecutive year.
With a footprint in 60 dynamic markets and serving clients in an additional 85, SCBNL’s mission is to drive commerce and prosperity through its rich diversity and values, captured in its brand promise: “Here for good.” SCBNL is also listed on the Nepal Stock Exchange.
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Contact Information:
Serene Khatiwada
Head, Corporate Affairs, Brand & Marketing
Standard Chartered Bank Nepal Limited
Email: Serene.Khatiwada@sc.com
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