37956 - GTFP Global IME

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Summary of Investment Information

Project Number

37956

Company Name

GLOBAL IME BANK LIMITED.

Date SPI Disclosed

May 30, 2022

Country

Nepal

Region

South Asia

Projected Board Date

May 23, 2022

Environmental Category

FI-3 - No Impact

Status

Pending Disbursement

Last Updated Date

Nov 19, 2025

Department

CF4S5 - Regional Industry - FIG Asia & Pac/FIG Inv Ops - South Asia

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2004
Signed : Dec 9, 2015

Sector

Commercial Banking - Trade

Project Description

The proposed project involves establishing an unfunded short term trade finance facility with Global IME Bank Limited (“GIBL” or the “Bank) in Nepal under the Global Trade Finance Program (“GTFP” or “Program”) of IFC (the “Project”) with a carve out allocated towards climate smart trade finance. GTFP is IFC’s response to shortage of trade finance limits in developing economies such as Nepal and the project will support GIBL in addressing the demand and supply gap for its growing trade business.

Associated Advisory Engagement

IFC AS is expected to support strengthening the Bank’s risk management frameworks, digitizing its operations, and preparing for climate finance opportunities which would allow GIBL to better serve its clients.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee	7000.0
Loan
Equity

Development Impact

The proposed project is expected to have both project level and market level development impact. The expected project-level outcome is improved access to Trade Finance for GIBL and its trade finance customers. The proposed GTFP facility will allow GIBL to connect with more global Confirming Banks (CBs) with better capacity which will help the Bank to process more transaction for its clients. Beyond the Project, IFC anticipates that GTFP improves overall market integration by (1) maintaining and expanding trade finance, financial linkages and trade across multiple markets through strengthening these bilateral correspondent banking connections; (2) serving as an enabling platform to make new connections between local and international banks and their customers; (3) channeling new sources of capital to support Emerging Markets and Developing Economies (EMDE) trade flow through demonstration and replication of successful correspondent banking connections and the trade finance program itself as a successful investment instrument.

E&S Category Rationale / Risks and Mitigation

The project involves establishing an unfunded short term trade finance facility including climate smart agri trade finance with GIBL in Nepal under the GTFP of IFC. The nature of financing is short term with average underlying tenor of maximum twelve months. The project presents low Environmental & Social ('E&S') risks and impacts and is categorized as Category FI-3 in accordance with IFC's Environmental and Social Sustainability Policy. The key E&S risk for short term trade finance projects relate to adherence to the IFC Exclusion list and restricted commodities list. The project will not support coal-related activities, or higher risk business activities that may involve a) involuntary resettlement, b) risk of adverse impacts on Indigenous Peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage, or d) significant Occupational Health and Safety risks. IFC's applicable performance requirements for this project will be i) the Exclusion List (trade finance); and ii) additional list of restricted commodities. GIBL is an existing IFC client and is implementing a satisfactory E&S risk management system (ESMS) in line with Nepal Rastra Bank Guidelines. There is an ESMS officer responsible for the implementation of ESMS. The ESMS details screening against IFC Exclusion List and restricted commodity list and includes due diligence procedures for assessment of compliance with relevant national E&S laws and regulations for its entire lending operations. It also lays down criteria and guidelines for periodic supervisions of its portfolio companies. The level of ESMS implementation is satisfactory. The existing ESMS will be applied to this project as well. GIBL has adequate HR policies which are in line with IFC Performance Standard - 2 requirements and follows the applicable Life and Fire Safety requirements.

Contacts

For Inquiries About the Project, Contact

Global IME Bank Limited
Ananta Raj Kafle
Head – Treasury and International Banking
+977 1 4223442
ananta.kafle@gibl.com.np
Kamaladi, Kathmandu, Nepal
www.globalimebank.com

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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