Standard Chartered Bank Nepal Partners with Chhimek Laghubitta Bittiya Sanstha to Enhance Financial Access in Rural Areas

As the only international bank in Nepal, Standard Chartered Bank Nepal Limited (SCB) focuses on increasing financial access through its global network. SCB has partnered with Chhimek Laghubitta Bittiya Sanstha Limited (CBBL), a leading microfinance institution, in collaboration with the Asian Development Bank (ADB) under a unique unfunded risk participation agreement.

This partnership aims to enhance financial access in rural areas, providing credit for income-generating activities and fostering economic growth in marginalized communities.

The signing ceremony included senior representatives from SCB, CBBL, and ADB. Arnaud Cauchois, ADB's Country Director for Nepal, highlighted the launch of ADB's Microfinance Program (MFP), emphasizing its role in promoting financial inclusion and reducing gender disparities by supporting marginalized women through CBBL.

ADB Director General Suzanne Gaboury noted the collaboration's potential to tackle poverty and create opportunities. CBBL's CEO, Deepak Nidhi Tiwari, stated that the funds would focus on self-employment initiatives in rural communities while ensuring consumer protection.

SCB’s CEO, Anirvan Ghosh Dastidar, expressed commitment to leveraging its international network for innovative financing solutions. SCB, recognized with an ICRANP-IR AAA rating for timely financial obligations, is committed to driving commerce and prosperity and is listed on the Nepal Stock Exchange. For more information, contact Serene Khatiwada, Head of Corporate Affairs at SCB.