Jun 20, 2024

Agreement between Siddharth Bank and IFC

Agreement between Siddharth Bank and IFC

KATHMANDU:Siddharth Bank and the International Finance Corporation (IFC) signed an agreement on Thursday to enhance capacity in risk management, gender, digital, and climate finance.

According to reports, the bank has made its overall plans more environmentally and socially conscious by using the 'Digital First' practice and focusing on areas of good governance, constantly prioritizing sustainable development.

The bank believes that the agreement will help it achieve its goals by improving its capability in the aforementioned areas and adhering to international best practices.

Siddharth Bank, an IFC Global Trade Finance Program participant, received the 'Best Operation Bank in South Asia 2021' award at the IFC's 10th Global Trade Awards.

Similarly, Siddharth Bank and the IFC agreed to make investments in Nepalese micro, small, and medium-sized businesses as well as climate financing.