Global IME Bank and IFC agreement for enhanced risk management and inclusive finance

KATHMANDU:A memorandum of understanding has been  signed an agreement between the Global IME Bank and the International financing Corporation (IFC), a member of the World Bank Group, under which the IFC would provide advisory services in risk management, climate financing, and gender finance.

The MoU was signed by the bank's CEO, Ratnaraj Bajracharya, and IFC's South Asia Regional Advisor and Upstream Manager, Mehdi Cherkaoui.

According to the agreement, IFC will advise Global IME Bank on strengthening its credit risk, operational risk, market risk, and asset and liability management frameworks, as well as modifying the bank's risk management policy to align with international risk management principles.

The IFC will conduct capacity-building programs for basic climate literacy as well as targeted programs for climate and finance capacity building.

The IFC will also give the Bank particular guidance on how to alleviate the impact of climate change in Nepal by improving access to climate finance in a variety of sectors such as clean transportation, climate-smart agriculture, and solar.

The bank believes that the partnership with the IFC will bring new dimensions to risk management, gender finance, and climate finance in Nepal.

The bank now offers banking services through 354 branches, 379 ATMs, 277 branchless units, 67 extension and revenue collection counters, and three international representative offices.