A $45M Investment in Fiscal Year 2022 Boosts Goal to Reach Over 30,000 Small Businesses in Nepal
Small businesses and people in Nepal will have better access to financing, with IFC's broader strategy for small and medium enterprises (SMEs) aiming to reach over 30,000 SMEs by 2023 while helping to improve inclusiveness, competitiveness, and sustainability of the financial sector in the country.
IFC is investing $45 million in the nation's recovering financial sector as part of a wider SME strategy, which aims to help spur a greater range of financial products and services such as psychometric scoring solutions and payment systems reforms. At the same time, IFC is also extending a trade finance facility as part of Global Trade Finance Program (GTFP), which includes a special provision for green trade financing. This is the first Green GTFP for IFC globally.