Himal Press 
KATHMANDU: The 36th Asian Credit Supplementation and Institution Conference (ACSIC) concluded in Kathmandu on Monday with a commitment to promote innovation, green finance and support for small and medium enterprises to achieve sustainable development goals.
Speaking in the final session of the conference titled ‘Innovative Solutions: Financing for Nature’, Babukaji Thapa, deputy general manager of the Agricultural Development Bank Ltd, said that green finance and environmental conservation are a new integrated financial model with economic benefits.
Thapa added that Nepali banks and financial institutions should focus on agriculture and forest-based enterprises and promote green finance.
“Nepal’s agricultural sector is at high risk of climate change. As a result, banks are hesitant to invest in forest-based and agriculture-related enterprises,” he said.
ACSIC is the cooperation of Asia’s credit guarantee organizations. Established in 1987, ACSIC is Asia’s largest organization designed for credit guarantee, participated by 17 credit guarantee institutions from 12 Asian countries.
Similarly, Siddhantra Raj Pandey, CEO of Business Oxygen, said that the growth of small and medium enterprises in Nepal has brought about a change in the livelihoods of the Nepali people and has become a strong pillar of the national economy. He emphasized the need to implement blended finance tools to bring a radical change in investment.
Likewise, Natasha Kapil, a private sector specialist at the World Bank, stressed the need to promote small and medium enterprises. She emphasized the need to adopt energy-efficient technologies. “Small and medium enterprises play a vital role in the national ecosystem, and the use of modern technology can increase their productivity,” she added.
The 36th ACSIC Conference, which began on Friday, saw the participation of representatives from credit and deposit insurance institutions from 16 countries.
Nepal hosted the conference after a hiatus of 30 years.
