Willem Grimminck, Managing Director of One to Watch, and Sunil KC, CEO of NMB Bank, signed a Memorandum of Understanding (MOU) on Wednesday 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 will take on the role of identifying entities with viable investment opportunities and provide linkages to them for financing from foreign investments. NMB Bank will 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, One to Watch and NMB Bank, aim to bridge the interim financial gap present due to the timeline involved in obtaining regulatory approvals for foreign investment.
