Global IME Bank signs agreement with Alternative Energy Promotion Center

KATHMAND:Global IME Bank Limited and the Alternative Energy Promotion Center (AEPC) have reached an agreement for a loan loss guarantee through the Central Renewable Energy Fund (CREF).

On Wednesday, Ratnaraj Bajracharya, CEO of Global IME Bank, and Navaraj Dhakal, Executive Director of Alternative Energy Promotion Center, signed a memorandum of cooperation.

The bank has entered into an agreement under the Sustainable Energy Challenge Fund for financial upliftment in the renewable energy sector.

This partnership, according to the bank, is anticipated to increase renewable energy finance in the country. The loan loss guarantee is also expected to reduce collateral requirements for loans for renewable energy.

In addition to investing in these types of initiatives, the bank will give banking services to projects operating in remote parts of the country under this arrangement to boost business growth by promoting small and medium-sized company.

Global IME Bank is the first private sector commercial with a network of branches in every district of the country.

The Bank is providing services to more than 4 million  customers from more than 1,100 service centers including 350 branch offices, 368 ATMs, 322 branchless banking services, 66 extension and revenue collection counters and 3 foreign representative offices.