In a strategic move to bolster the tourism sector and support local businesses, Garima Bikas Bank Limited has signed a pivotal agreement with the Nepal Association of Tour and Travel Agents (NATTA) Gandaki Province. This partnership aims to provide financial concessions and support to tourism-related businesses in the region.
The agreement, signed by Bhola Prasad Tiwari, Head of Garima Bikas Bank’s Gandaki Provincial Office, and Hariram Adhikari, President of NATTA Gandaki, focuses on offering various banking services with favorable terms to NATTA Gandaki’s member businesses.
One of the standout features of this agreement is the provision of a bank guarantee of up to NPR 5 lakhs for five years with a minimal cash margin of 10%. This initiative, as detailed by Sangeeta Paudel, Secretary General of NATTA Gandaki Province, is designed to provide significant financial support to local businesses, aiding their operational stability and growth.
“The bank guarantee with a 10% cash margin is a substantial support measure that will enable our members to manage their finances more effectively, ensuring sustained business operations,” Paudel stated.
The agreement is not only a financial arrangement but also a step towards revitalizing tourism in the Gandaki Province, including the popular tourist destination of Pokhara. NATTA Gandaki Province has been actively involved in promoting tourism across Nepal, and this partnership is expected to enhance those efforts by providing the necessary financial backbone to tour and travel businesses.
The signing ceremony witnessed the participation of key officials from NATTA Gandaki Province and Garima Bikas Bank, including the Head of Garima Bank’s Lakeside branch and several bank employees. The collaboration reflects a shared commitment to fostering economic growth and enhancing the tourism infrastructure in the region.
This agreement between Garima Bikas Bank and NATTA Gandaki Province marks a significant milestone in supporting local businesses and promoting tourism in Nepal. By offering financial concessions and guarantees, the partnership aims to create a robust economic environment where businesses can thrive and contribute to the region’s prosperity. As Pokhara and the broader Gandaki Province continue to attract tourists, this initiative is poised to provide the necessary support for sustainable tourism development and economic resilience.
