Swiss Investment Fund commits $10 million investment in Global IME Bank to boost Nepal’s economy

KATHMANDU: In a significant development for Nepal’s banking sector, the Swiss Investment Fund for Emerging Markets (SIFEM) has pledged a substantial investment of 10 million US dollars (approximately 1 Arba 32 Crore rupees) in Global IME Bank Limited (GBIME).

The agreement, inked by Ratnaraj Bajracharya, CEO of Global IME Bank, and Jörg Frieden, Chairman of SIFEM, marks a pivotal moment in Nepal’s financial landscape. The investment is earmarked to provide crucial financial support to the agriculture sector, as well as micro, small, and medium enterprises (MSMEs) in Nepal.

The infusion of funds aims to bolster these sectors, fostering their growth, market competitiveness, and importantly, contributing to financial inclusion and job creation across the nation.

This strategic collaboration aligns with Nepal’s broader economic development goals and underscores the importance of partnerships in driving sustainable growth.

Expressing satisfaction with this milestone collaboration, the Embassy of Switzerland in Nepal lauded the initiative as a testament to the shared commitment towards advancing Nepal’s economic prosperity.

The investment not only reflects confidence in Nepal’s potential but also highlights Switzerland’s dedication to supporting the expansion of key sectors vital for the country’s development.

Global IME Bank, renowned for its pivotal role in Nepal’s banking sector, boasts a vast network serving over 4.6 million customers.

Through its extensive reach, including branches, ATMs, and international remittance services, the bank has been instrumental in facilitating financial transactions and empowering individuals and businesses alike.

With this infusion of funds from SIFEM, Global IME Bank is poised to further amplify its impact, driving inclusive growth and fostering a more resilient and prosperous economy for Nepal and its people.

Fiscal Nepal |
Friday May 3, 2024, 01:12:14 PM |

Leave a Reply

Your email address will not be published. Required fields are marked *