WB approves $95 million to expand access to finance for over 100,000 SMEs
Summary
The World Bank has approved $95 million to expand access to finance for over 100,000 SMEs in Nepal, aiming to promote job-led growth and financial inclusion.
Key Points
- The World Bank approved a $95 million operation to enhance finance access for more than 100,000 SMEs in Nepal.
- The project aims to strengthen Nepal’s Deposit and Credit Guarantee Fund (DCGF) to support underserved segments like women-led businesses.
- Investments will be made to improve technology and institutional capacity of the Credit Information Bureau of Nepal (CIBN) to broaden data coverage and security.
- This operation supports Nepal’s financial sector reforms and aligns with the government’s Financial Sector Development Strategy.
