MAW Earthmovers, the sole distributor of JCB Construction and Heavy Equipment in Nepal, has inked a memorandum of understanding with Mega Bank to enter into a strategic financing partnership.

The agreement was signed by Vishnu Kumar Agarwal, chairman of MAW Earthmovers and Anupama Khunjeli, chief executive officer of Mega Bank in presence of Virender Bhardwaj, country head, Nepal from JCB India.

The agreement will enable both partners to offer customized financial solutions to JCB customers across the country with a focus on semi-urban and rural geographies, according to a press statement issued by MAW Earthmovers.

“With this partnership, we believe that we will be able to carry our common goal of customer satisfaction by delivering service excellence,” said Agarwal. “We are proud to be a trusted brand in the construction and heavy equipment sector in Nepal with more than 50 percent market share.”

"Retail financing is a very integral part of the construction and heavy equipment business,” said Bhardwaj. “I believe this tie-up will enforce MAW to support its customers residing in various places from Nepal with its own and Mega Bank’s wide coverage across Nepal.”

Nepal is a developing country with huge opportunities in roads, hydro, cement, and mines, added Bhardwaj.

“MAW Earthmovers has always been one of the best JCB dealers because it prioritizes the need and demand of the market in delivering the technically advanced machines to perfectly fit in the Nepalese market with high and ease of work performing capabilities.”