The International Centre for Integrated Mountain Development (ICIMOD) and NMB Bank, Nepal signed a Memorandum of Understanding to provide mountain communities in Nepal better access to finance. NMB and ICIMOD hope to build on each other’s network and strengths to foster cooperation and contribute to sustainable mountain and socio-economic development in Nepal through knowledge intervention and business promotion. The partnership focuses on achieving and delivering the shared values and goals of the organisations. The three broad focus areas of the collaboration are access to finance, impact investment, and corporate social responsibility (CSR) activities for the benefit of mountain communities.
Speaking on the occasion, David Molden, Director General of ICIMOD, said, “ICIMOD is increasingly stepping up to work closely with private sector organisations in Nepal and other regional member countries of the Hindu Kush Himalayan region. We see that there is synergy in businesses and would like to engage in a meaningful partnership with NMB Bank to enhance our impact on mountain communities.” ICIMOD recognises NMB as a strategic private sector partner that can provide communities much needed access to finance for sustainable livelihoods and the success of interventions in Nepal.
Sunil KC, CEO of NMB Bank, said, “NMB believes that investing in real economies is pertinent to the long-term economic sustainability of Nepal. This collaboration with ICIMOD is in line with our faith in value-based banking. We are pleased to add value to ongoing ICIMOD activities by providing mountain communities better access to finance. Our partnership with ICIMOD will provide economic and social benefits to mountain people and help increase their income.”