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The OPEC Fund for International Development (the OPEC Fund) has signed a US$15 million loan in favour of NMB Bank Limited (NMB) in Nepal for the purpose of financing micro, small and medium-sized enterprises (MSMEs) and renewable energy projects. The loan represents the OPEC Fund s first financial institution transaction in the country.
MSMEs currently constitute more than one-third of NMB s total loan portfolio (approximately 4800 borrowers) and the bank is working toward increasing its MSME base. NMB is also already one of the leading finance providers for local renewable energy providers in Nepal. Its renewable energy portfolio consists primarily of hydro projects (over 90% of its renewable energy portfolio) and total committed limits for renewable energy stand at approximately 17% of its total loan outstanding book.
February 16, 2021
The private sector and the SDGs: Bridging the financing gap
The private sector has a major role to play in driving development in low- and middle-income countries if the world is to achieve the 17 Sustainable Development Goals by 2030. The OPEC Fund’s Private Sector and Trade Finance team is fully engaged with the challenge…
As published in the 01/2021 issue of the
OPEC Fund Quarterly.
The OPEC Fund was established with a distinct mandate: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs,such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. Our vision is a world where sustainable development is a reality for all.