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SIFEM invests in Global IME Bank in Nepal

 | Portfolio

SIFEM’s USD 10 million impact loan to Global IME Bank is boosting economic growth by supporting MSMEs and fostering job creation in Nepal.

SIFEM invests in Global IME Bank in Nepal

SIFEM’s USD 10 million impact loan to Global IME Bank is boosting economic growth by supporting MSMEs and fostering job creation in Nepal.

Our chairman, Jörg Frieden, together with the Swiss Ambassador, attended the signing ceremony of the financial transaction with Global IME Bank, the largest bank in Nepal. SIFEM has provided a loan of USD 10 million to the bank, which offers financial services to financially underserved micro-, small, and medium-sized enterprises (MSMEs) through a widespread branch network. The bank’s services cater to various sectors, including agribusinesses and women.

MSMEs and the agriculture sector account for a majority of jobs in Nepal. By providing these enterprises with suitable financial services, they can grow, develop their businesses, and create jobs.

 Jörg Frieden, Chairman of the Board of SIFEM, stated, “We’re excited to close this second transaction in Nepal, one of the priority countries of Switzerland’s International Cooperation Strategy. The investment can potentially support projects of the Swiss Cooperation program in the country.”

Ralph Keitel, CIO of SIFEM, commented, “Our analysts at responsAbility, SIFEM’s portfolio manager, are grateful for the support of the Swiss Embassy on the ground and proud to have contributed to this important transaction.”

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