Global IME Bank signs agreement with Alternative Energy Promotion Centre; secures for loan loss guarantee under sustainable energy challenge fund

Global IME Bank Limited has signed an agreement with Alternative Energy Promotion Centre (AEPC)/Central Renewable Energy Fund (CREF) for Loan Loss Guarantee under Sustainable Energy Challenge Fund for financing in Renewable Energy sector in Madhesh, Lumbini and Karnali Provinces. The fund is established with support of British Government funded Nepal Renewable Energy Program. The arrangement is expected to scale up renewable energy financing in the country with the bank able to secure 20% of the losses with the guarantee support.

The MoU was signed between CEO of the bank Mr. Ratna Raj Bajracharya and ED of AEPC Mr. Navraj Dhakal amid a program, as per the media statement.

The Bank is currently providing its services through 350 branches, 368 ATMs, 322 branchless banking units, 66 extension counters and 3 foreign relation offices.