Kathmandu. KATHMANDU: Kumari Bank Limited has signed a strategic project agreement with Deutsche Sparkassenstiftung fur International Cooperation to promote sustainable banking practices. The partnership is part of the Financial Sector Socio-Ecological Transformation Campaign in selected countries of Asia, a regional program funded by the German Ministry of Federal Affairs and Development.
The agreement was signed by the bank’s Chief Executive Officer Ram Chandra Khanal and Chief Executive Officer of Deutsche Sparkassenstiftung führ International Cooperation. Signed by Ilonka Rule Stern. The partnership has been divided into two successive phases to institutionalize and expand green banking practices in a two-phase roadmap for sustainable banking.
Speaking on the occasion, Mr. Arpan Poudel, Head of Sustainable Banking at Kumari Bank Ltd. said, “This partnership is a decisive step towards maturing a sustainable banking practice for Kumari Bank. With the technical support of its partners and guidance from the Nepal Green Finance Taxonomy, the bank expects to progressively refine and refine its banking practices in line with international experiences and practices, contributing to the promotion of green finance, low carbon emissions and sustainable and resilient entrepreneurship.
According to the agreement, Deutsche Sparkassentiftiftung für IECK will provide technical support by providing its proprietary specialized technology systems such as the ESG Risk Radar and the Sustainable Finance Compass. In addition, the DISK Business game to strengthen rural areas and small and medium enterprises and enhance green enterprise capacity; It will also be operated.
Kumari Bank, one of Nepal’s leading financial institutions, through its strong network, will be driving this transformational initiative nationwide. Presently Kumari Bank has been providing banking services through its widest domestic network of 286 branches, 303 ATMs, 40 extension counters, 41 branchless banking units and more than 1100 POS Terminals.
Known for its customer-centric innovation, transparent working style and good governance, Kumari Bank and Deutsch Sparkassenstiftung furer International Cooperation in this partnership will add vital energy to Nepal’s journey towards a sustainable economic development and a clean, climate-resilient future.
