According to the agreement, the largest amount of Chinese currency brought into Nepal will be done through Sanima Bank and it will increase the capacity and credibility of the bank and help in sustainable development, the bank said.
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An agreement was signed between the two banks to facilitate financing for Manang-Marsyangdi Hydropower (135 MW) and Langtang-Bhotekoshi Hydropower (120 MW) at a special event held at the Sichuan branch of China.
On behalf of Sanima Bank, Chief Deposit Officer Hemraj Sanjyal and CEXIM's Sichuan Branch Vice President Wu Yanhui signed the agreement. At the ceremony, the Chief Executive Officer of Sanima Bank, Nischal Raj Pandey, thanked them for trusting them for the responsibility of the agent bank and said that the cooperation will help in the expansion and promotion of international business relations.
He mentioned that such cooperation in energy, infrastructure and other fields will be important for Nepal. Representatives of CEXIM and key investors expressed their commitment to facilitate timely completion of the project. According to the
agreement, the largest amount of Chinese currency will be brought into Nepal through Sanima Bank and it will help in sustainable development along with increasing the capacity and credit of the bank.
