June 16, 2022 | Investopaper
With an aim to cater the financing requirement of eco-friendly and sustainable businesses, Nabil Bank has announced its new SME loan scheme ‘Nabil Eco-Friendly Business Loan’ for the first time. Under this scheme, any business that contributes to sustainable development will be eligible for the loan at lower price.
According to the bank, the interest of the loan amount will be 0.5% lesser than other loans. Businesses related to waste management, biogas, organic fertilizer production, upcycle, recycle and reuse, and others that envisions lowering the carbon footprint, pollution, and deforestation of the country will be entertained under this scheme.
“Nabil Eco-Friendly Business Loan scheme is our latest initiative under sustainable and green financing that reflects the bank’s support in reducing the waste going into the landfill and thereby contributing towards social and environmental values,” said Niraj Kumar Basnet Danil, Head of SME and MF of the Bank. He further added that the bank is further extending its support to these eco-friendly businesses to build into a successful business venture through our capacity enhancement programs and co-marketing program.
Stating that Nabil has been advocating sustainable banking since a while, he added, “Being part of the society, it is our duty to work responsibly. We are promoting sustainable banking plans which will definitely open up new avenues and horizon to work under eco-friendly and sustainable businesses.”
The scheme not only confined to bridge the financing gaps observed in the eco-friendly businesses, but also envisions to empowering businesses with the Capacity Enhancement Programs and Business Development Support/ Counseling to help them grow. Moreover, the bank shall enroll any borrower under this scheme into the Nabil SME Co-Marketing Program which enables them to promote their product and services to the wide customer base of the bank.
Nabil Bank Limited is the nation’s first private sector bank, established in 1984 AD. The Bank serves a complete line of commercial banking products through branch banking, treasury, trade, cards, remittance and investment banking. The Bank operates through a network of 150 branch offices, 187 ATMs, numerous POS terminals, remittance agents spread across the nation and over 1500 international correspondent banking relationships.