Finnfund and Swedfund invest in Siddhartha Bank to strengthen Nepal's financial inclusion and financing to renewable energy
Finnfund and Swedfund complete their first direct investment within the Nepalese banking sector by providing a loan of 10 million US dollar each to Siddhartha Bank. The proceeds of the investment will be used to support the growth of micro, small and medium enterprises (MSMEs), agriculture and agribusiness, and the development of the hydropower sector in Nepal. The investment will also support gender equality and women’s empowerment, with at least 30% of the loan proceeds being allocated to women. The Bank has developed tailor-made products for women entrepreneurs and currently 41% of