Kathmandu. Laxmi Sunrise Bank has entered into a Global WMSME Sex Disaggregated Data (SDD) collaboration agreement with the International Finance Corporation (IFC), a private sector under the World Bank Group, under the Banking on Women (BoW) initiative. The program is supported by the Women Entrepreneurs Finance Initiative (We-Fi), a multilateral international initiative established to promote women entrepreneurship.
We-Fi is a multi-donor international platform established with the aim of expanding investment and financial access to women-led and owned small and medium enterprises (WMSMEs) around the world. The Women Entrepreneurs Finance Code (the WE-Finance Code) is a shared commitment between financial institutions, regulatory bodies, and financial system stakeholders, aiming to provide women entrepreneurs with the necessary financial resources to contribute to economic growth and job creation.
The agreement was signed by Mr. Sumed Bhattarai, Acting CEO of Laxmi Sunrise Bank and Mr. Mehdi Cherkaui, Regional Manager for South Asia, IFC.
Under this collaboration, IFC will support the bank to strengthen the collection, analysis and use of Gender Disaggregated Data (SDD). It will help develop an understanding of the needs, challenges, and opportunities of women-owned small and medium enterprises (WSMEs). Based on this, the bank will be able to develop more effective and appropriate financing solutions for women entrepreneurs.
This collaboration further reinforces Laxmi Sunrise Bank’s commitment towards responsible banking practices. The bank looks forward to this partnership and make a meaningful contribution in promoting women entrepreneurship and in inclusive economic development.
