📋 Tender Overview
Project Number: 49688
Company Name: NMB BANK LIMITED
Date SPI Disclosed: Sep 9, 2024
Country: Nepal
Region: South Asia
Projected Board Date: Oct 9, 2024
Environmental Category: FI-2
Status: Pending Approval
Department: Regional Industry - FIG Asia & Pac
Industry: Financial Institutions
Sector: Commercial Banking - General
Additional Project Attributes: Blended Finance
Project Description
The proposed investment consists of up to US$50 million equivalent in Nepalese Rupees (NPR) in a 5-year, privately placed, green bond (the Green Bond) to be issued by NMB Bank Limited (NMB or the Bank), an existing IFC client, to facilitate its lending program to eligible climate assets (the Project). IFC subscription of the green bond will be up to a maximum of US$40 million and IFC will invite other investors to subscribe to the green bond for an additional minimum amount of US$10 million, with IFC acting as an anchor investor. The proposed Green Bond will be the first by any institution in Nepal. This will also be the first time that foreign investors would be subscribing to a bond issuance by a local issuer. The proposed investment would contribute to developing the long-term (LT) debt capital market, along with climate financing, which are both at nascent stages in Nepal.
Total Project Cost and amount and nature of IFC's Investment: The proposed investment consists of up to US$50 million equivalent in Nepalese Rupees (NPR) in a 5-year, privately placed, green bond (the Green Bond) to be issued by NMB Bank Limited (NMB or the Bank), an existing IFC client, to facilitate its lending program to eligible climate assets (the Project). IFC subscription of the green bond will be maximum up to US$40 million and IFC will invite other investors to subscribe to the green bond for an additional minimum amount of US$10 million, and IFC will act as an anchor investor.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington, DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
