Kathmandu. Nabil Bank and Nepal in Business-Growth Advisors (NBG-GA) have entered into a strategic partnership to provide grants and technical assistance to SMEs. Manoj Kumar Gyawali, CEO of Nabil Bank and Mr. Ratish Basnyat, Head of NIB Program, signed the MOU.

Under the programme, the Foreign Commonwealth and Development Office (FCDO) will provide grants of NPR 4.4 million to 40 SMEs through the NIB-GA, depending on the key regions and geography specified by the NIB. The grant assistance will help entrepreneurs to expand their products and services and develop them as export-oriented enterprises.

CEO Gyawali said that such campaigns will help boost the morale of small and medium enterprises (SMEs). “This project has been designed to work closely with entrepreneurs and policy makers for the development of SMEs,” he said, adding that under the project, Nabil Bank will be able to provide SME loan and channel financing facilities to partner institutions. ’

NIB-GA program chief Basnyat expressed his gratitude to Nabil Bank for managing the project in a systematic and transparent manner. “This type of collaboration can be applied to other projects of the same nature, and the government can adopt similar frameworks to increase the effectiveness of capital expenditure,” he said.

As per the partnership, Nabil Bank will be providing grants to the entrepreneurs as the financial partner of the program. The bank will manage its finances in a safe, transparent and effective manner for all partner institutions. The program is focused to strengthen SMEs by providing grants and technical assistance to create sustainable and productive jobs.

NIB-GA is a five-year project. The project is financed by UK International Development and implemented by DAI Global UK.