Kumari Bank and USAID Trade and Competitiveness Sign LOC to Extend Banking Facilities to SME, MSME Segment

Kumari Bank Limited has signed a Letter of Cooperation (LOC) with USAID Trade and Competitiveness, laying a foundation for over three years for effective collaboration in different activity areas.  

Under this LOC, USAID Trade and Competitiveness will share technical expertise with the Bank in developing innovative solutions towards sustainable broad access to finance in focus sectors (SMEs, MSMEs). The Bank, in turn, will offer tailored packaged business solutions with financial preparedness delivered through its branch outlets and online medium.

The Bank has set a target to help 10,000 new SMEs, MSMEs as “Banking/ Credit Ready” SMEs, MSME in the Fiscal Year 2080/81 and will be providing credit facilities to 1,000 deserving female entrepreneurs who are identified through this program. 

The LOC was signed by Mr. Ramesh Raj Aryal, Chief Executive Officer, Kumari Bank and Ms. Agnes Luz, Chief of Party, USAID Trade and Competitiveness.