According to the IFC website, the project consists of a senior loan to be extended to NMB Bank Limited, Nepal. The NMB Bank Limited provides banking products and services to customers in Nepal. The funding to the Bank will support the working capital needs of its clients, especially Small and Medium Enterprise clients in key sectors within Nepal’s economy.
The proposed project is expected to increase access to working capital financing for SMEs in Nepal, which suffer from a significant gap between the current supply of finance and their demand for credit. It is expected that the growth of small and medium enterprises will facilitate business growth, job creation and income generation, especially in key productive sectors of the Nepalese economy.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
NMB Bank Limited provides banking products and services to customers in Nepal.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|Beni Hydropower Project||Parent Company||Energy||owns||Upper Solu Khola Hydropower Plant (18MW)||Client||Energy|
|NMB Bank Limited||Investor||Finance||invests in||Beni Hydropower Project||Parent Company||Energy|
|NMB Bank Limited||Investor||Finance||invests in||HONGSHI SHIVAM CEMENT PVT.||Parent Company||Construction|
|NMB Bank Limited||Investor||Finance||invests in||Upper Solu Khola Hydropower Plant (18MW)||Client||Energy|
For inquiries about the project
NMB Bank Limited
Babarmahal, Kathmandu, PoBox - 11543
For inquiries and comments about IFC
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/