Himal Press 
KATHMANDU: Nepal Rastra Bank (NRB) and the International Finance Corporation (IFC) have signed a Memorandum of Understanding (MoU) to collaborate on climate finance development in Nepal.
The MoU was signed by Executive Director Dayaram Sharma Poudel of the Governor’s Office on behalf of NRB, and Gregory Smith, Country Advisor and Economist for South Asia at IFC, amid a ceremony at the central bank in the presence of Deputy Governor Bam Bahadur Mishra, according to a statement issued by the NRB.
As per the MoU, the IFC will provide technical assistance to the central bank to develop climate finance in Nepal.
The project will involve preparing a draft strategy and roadmap concerning climate finance. A framework will also be developed for the phased implementation of the strategy. Furthermore, IFC will conduct training and capacity development programs to enhance the capabilities of NRB and the financial sector to formulate and implement a climate finance strategy.
The project is scheduled to run until September 2028.
The collaboration aims to support the financial sector in managing climate-related financial risks and promoting the mobilization of financial resources for climate adaptation in Nepal.
Speaking on the occasion, Deputy Governor Mishra expressed confidence that the new MoU will help in the development and execution of climate finance policy in the country.
Similarly, Smith said he remains hopeful that the partnership with NRB will help achieve outcome-oriented results in developing and implementing a climate finance strategy in Nepal.
