Workshop on risk management guidelines for BFIs

KATHMANDU, June 2 :

Nepal Rastra Bank Governor Dr Yuba Raj Khatiwada has said the central regulatory bank will give top priority to environmental and social risk performance improvements in banks and financial institutions. Speaking at a workshop organized by International Finance Corporation (IFC) here on Monday, Khatiwada said the central bank´s role is key in minimizing adverse environmental and social impacts.

According to IFC, the workshop was part of Nepal´s first multi-stakeholder consultation toward streamlining and integrating environmental and social risk management processes across the sector. Val Bagatsing, IFC Resident Representative for Nepal, said that good environmental and social risk management is good business. "IFC has played an important role in other emerging markets in ensuring sustainability by working closely with central banks in developing guidelines for better risk management in this space and instituting training modules to build capacity,” he added.

Source: Republica