Kathmandu : Nepal Investment Mega Bank Ltd. (NIMB) becomes the pioneering private sector entity and the first commercial bank in Nepal to receive accreditation from Green Climate Fund (GCF) in the medium size category, enabling the company to manage projects ranging from USD 50 million to USD 250 million marking a significant advancement for the nation’s private sector in climate finance.
The Green Climate Fund (GCF) – a critical element of the historic Paris Agreement was established by 194 countries party to the UN Framework Convention on Climate Change (UNFCCC) in 2010.
GCF is the world’s largest dedicated climate fund for climate action, with the mandate to make "an ambitious contribution to the global efforts towards attaining the goals set by the international community to combat climate change and to support developing countries raise and realize their Nationally Determined Contributions (NDC) ambitions towards low-emissions, climate-resilient pathways.
Mr. Jyoti Prakash Pandey, CEO of NIMB said, “We are honored to be recognized by GCF and are eager to leverage this opportunity to further our mission of implementing innovative and transformative climate change projects.
The accreditation process was rigorous and we are thankful to Ministry of Finance (NDA), National and International DAEs, Consultants, and all stakeholders who supported us to attain this landmark achievement”.
With this accreditation, NIMB sends a clear message to the private sector: the opportunities for collaboration in sustainable and green investments are immense. NIMB is committed to serving as a bridge for private entities eager to play a role in advancing Nepal’s climate goals.
NIMB will focus on Mitigation and Adaptation projects addressing key climate challenges in Nepal, including energy generation and access, transport, livelihoods of people and communities, sustainable agriculture, health, food and water security, and resilient built environments.
Through collaboration with local communities, government agencies, and international partners, NIMB aims to maximize the impact of these projects, contributing to Nepal’s national climate goals and the global effort to combat climate change.
