Kathmandu. Kumari Bank Limited signed a Memorandum of Understanding (MoU) with Helvetas Swiss Intercooperation Nepal (Helvetas Nepal), consolidating its banking, capacity building for individuals and communities and promoting sustainable development through strategic partnerships. The main objective of this partnership is to expand financial access and business development support to micro-entrepreneurs, farmers, youth-run businesses and other key value chain stakeholders involved in Nepal’s emerging green economy.

The agreement was formally signed by Mr. Chandan Karki, Chief Marketing & Investment Officer of Kumari Bank and Mr. Manish Pradhan, Country Director of Helvetas Nepal. The collaboration combines Helvetas Nepal’s experience in the field of inclusive economic growth, enterprise promotion and value chain strengthening with Kumari Bank’s financial expertise, services and extensive reach. Both organizations will prioritize expanding financial access and value chain financing for green enterprises and green value chain-based businesses.

Commenting on the partnership, Mr. Arpan Poudel, Head – Sustainable Banking at Kumari Bank, said, “The Bank will play a pivotal role in facilitating development of green enterprises by providing financial resources as well as capacity building. According to him, the collaboration will help in building a green and climate-resilient Nepal and make financial access sustainable. Kumari Bank is expected to combine its financial expertise and experience in Helvetas Nepal’s enterprise development and inclusive value chain to help develop the potential green business as a long-term foundation for job creation, innovation and local economic development.

The collaboration is expected to establish a more effective linkage between financial institutions, entrepreneurs, farmers and other stakeholders involved in the Green Value Chain. Along with the expansion of financial access, emphasis will also be laid on the capacity development of enterprises to effectively mobilize and manage the financial resources received. This integrated approach aims to contribute to the expansion of Nepal’s green economy by encouraging inclusive, sustainable and resilient enterprise development.

As one of the leading financial institutions in Nepal, Kumari Bank through its extensive network of branches and services will expand and effectively implement these initiatives to the target community. The bank has a network of 279 branches, 296 ATMs, 41 extension counters, 40 branchless banking units and more than 1233 POS terminals across the country. Kumari Bank has been leading the bank further strengthening its role for the long-term economic transformation of Nepal by propriating customer-centric innovation, responsible banking, and sustainable financial practices. The collaboration with Helvetas Nepal is expected to contribute to the development of financially viable green enterprises, creation of strong value chain jobs, and building a climate-resilient economic system. It is believed that this will further contribute to propel Nepal towards a clean, inclusive, sustainable and climate-resilient economy.