NMB Bank signs agreement with Avsar Foundation
NMB Bank has signed an agreement with Avsar Foundation. The agreement has been signed jointly by Mr. Sunil KC, Chief Executive Officer, NMB Bank and Mr. Surendra Silwal, General Secretary of Avsar Foundation. With the signing of this agreement the Bank directly or through its subsidiary, NMB Micro finance Bittiya Sanstha Ltd. will design, develop and monitor customized loan products, suitable for people from low income household. Loans under this agreement will be available in six districts of Nepal as Taplejung, Dolakha, Siraha, Nawalparasi, Kapilvastu and Kailali.
As per the press statement issued by the bank, the Loan will be provided for entrepreneurial and income generating activities in Agriculture, Livestock, SME and Small Cottage Industries. The salient feature of this agreement is the full reimbursement of the interest payments for loans availed by low income households. Such interest reimbursement scheme is expected to attract low income household in entrepreneurial activities ultimately supporting to uplift their living standard in the long run – said Mr. Sunil KC. Chief Executive Officer, NMB Bank.
Being a member of Global Alliance for Banking on Values – NMB Bank’s goal is to work with local communities for sustainable development.