NMB Bank and One to Watch sign MOU
31 Jan, 2019
NMB Bank and One to Watch sign MOU to provide bridge financing arrangement for One to Watch’s investee companies.
Kathmandu - Sunil KC, CEO, NMB Bank and Willem Grimminck, Managing Director, One to Watch, signed a Memorandum of Understanding (MOU) at a ceremony held at NMB Bank headquarters in Babar Mahal, Kathmandu.
Under the terms of the agreement, the signatory institutions will work together for meeting the financial requirement of investee companies, awaiting foreign investments, under a bridge finance arrangement.
One to Watch shall take on the role of identifying entities with viable investment opportunities and provide linkages to them for financing from foreign investments. NMB Bank shall provide bridge financing facilities for One to Watch’s investee companies for the interim period before the approval of foreign investment.
Through this collaboration both, NMB Bank and One to Watch, aim to bridge the interim financial gap present due to the timeline involved in obtaining regulatory approvals for foreign investment.