Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

BO2 To Boost Growth Of SMEs

  1 min 36 sec to read

Nepal’s first Small and Medium Enterprises Venture Fund, Business Oxygen (BO2), was  launched on 15th January. BO2 is managed by a joint venture of Bank of Kathmandu Ltd and Beed Management. BO2 will be making equity investments in SMEs in Nepal and will cater to the needs of businesses that are unable to get finances through traditional banking means of collateralized loans. Beed BOK Ventures won the global bid to manage the IFC-SME Venture Fund, conceptualized and promoted by the International Finance Corporation (IFC), a member of the World Bank Group. 

“Providing risk finance to small businesses in countries with limited ready access to sophisticated capital markets has been the key focus of our programme,” said Peter Tropper, Chief Investment Officer, IFC.” 

“This fund will widen financing options for the SMEs in Nepal, helping SME growth and sustainability,” said Kyle F Kelhofer, IFC Country Manager for Bangladesh, Bhutan and Nepal. “IFC is keen about strengthening SMEs in Nepal that account for 96 per cent of the total industries and play a vital role in the country’s economy.”

Ajay Shrestha, CEO, Bank of Kathmandu Ltd, said, “This kind of financing arm can provide options for developing a balanced financial structure of small and medium sized business ventures, which in turn can be comforting for the entire banking sector.”

Suman Rayamajhi has been named the CEO of Business Oxygen. CEO of Beed, Sujeev Shakya said “This is yet another step for Beed, an organization that believes in being associated with pioneering efforts and innovation. This is a very proud moment for Beed.”

The fund will invest up to USD 500,000 in equities in companies that are already six months in operations and comply with all the investment guidelines.

Related Post

OPPO A7 Available in Market

OPPO A7 Available in Market

Biz Launches January 2014

Biz Launches January 2014

HP’s New Year Bonanza

HP’s New Year Bonanza

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.