Kumari to finance DCGF for IT sector

KATHMANDU, DECEMBER 22: Kumari Bank Limited signed a Memorandum of Understanding (MoU) with the Deposit and Credit Guarantee Fund (DCGF)  regarding theK loans floated under the ‘KBL Smart Business Loan for IT Sector’.  It was inked by  Ram Chandra Khanal, Chief Executive Officer, Kumari Bank, and  Ramesh Ghimire, Chief Executive Officer of Deposit and Credit Guarantee Fund (DCGF) on behalf of their respective organisations.

As per the deal, DCGF shall secure the portfolio of IT sector loans provided by Kumari Bank under a special SME/MSME segment loan tailored for IT sector companies, “KBL Smart Business Loan for IT Companies.” This deal is considered a milestone for both parties in terms of promoting access to finance among IT companies.

Notably, Kumari Bank has already been working in partnership with other organisations like NEPAL ASSOCIATION FOR SOFTWARE AND IT SERVICES COMPANY (NAS-IT) and USAID Trade and Competitiveness as part of its mission to help boost the IT industry of the country.