November 24: FMO, the Dutch development bank has increased its stake in NMB Bank in Nepal. Issuing a press statement, the bank informed that FMO increased its equity investment in the company from 3% to 20%.

According to the statement, in October 2015, NMB merged via a share swap with FMO’s investee Clean Energy Development Bank and two smaller banks Bhrikutee Development Bank and PathibaraBikas Bank and Prudential Finance Company. "After the merger FMO’s stake diluted from 14% to 3%. This transaction entails an additional equity investment increasing FMO’s stake to 20%," reads the statement.

"FMO is proud to be a pioneer FDI investor to actively support the financial sector in Nepal, thereby enabling much needed investments in the renewable energy sector decreasing CO2 emissions, while helping this beautiful country grows its economy," said Linda Broekhuizen, Chief Investment Officer of FMO.