NMB Bank signs MOU with Wind Power Nepal for hydroponics vertical farming system financing

NL Today

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Kathmandu: NMB Bank has signed a Memorandum of Understanding with Wind Power Nepal for financing in hydroponics vertical farming system.

The bank under the arrangement shall provide credit to individuals and businesses that are willing to adopt hydroponics farming with a farming system obtained from Wind Power Nepal.

Hydroponics is a technique of growing plants without the use of soil. It uses a water-based nutrient solution and is expected to produce 3-10 times in the same amount of space. The production cycle is quick and the nutrition value of the end product is higher compared to the traditional production system.

Sustainable Banking forms the cornerstone of NMB Bank’s vision for growth and prosperity in the nation with a focus on the real economy segments of SME, MSME, agriculture, infrastructure, and energy, the bank said in a statement.