Finnfund, Swedfund loan $20m to help you Nepalese lender

Finnfund, Swedfund loan $20m to help you Nepalese lender

New funds to boost financial introduction and also the hydropower industry show the original lead investment about Himalayan country because of the two Nordic development finance institutions.

Finnfund and you can Swedfund have made money regarding $10m (nine.26m) for every single so you’re able to Kathmandu-situated Siddhartha Lender to support small, small and typical organizations (MSMEs), farming as well as the hydropower business.

Siddhartha Bank is one of the country’s prominent commercial finance companies which have 196 twigs all over the country. Its loan portfolio totals $step one.55bn covering a variety of economic points, including manufacturing, general and you may retail.

About 30% of loan proceeds from the fresh new funds can be allocated to feminine, in assistance gender equality and ladies empowerment. As much as forty% of your bank’s customers are feminine and it also now offers products brought towards the female entrepreneurs. Read more