10 billion infrastructure investment fund will be created with the active participation of NRNA

Kathmandu. The Ministry of Finance has stated that it is preparing to set up a fund of Rs. 10 billion to invest in the infrastructure sector under the leadership of the Non-Resident Nepali Association (NRNA). For that, the Non-Resident Nepali Association has started the work of registering a separate company in Nepal.

In the meeting held at the Ministry of Finance, it has been decided to invest 5 percent in the fund through the company to be established on behalf of the Government of Nepal as per the prior agreement.

Finance Minister Bishnu Prasad Poudel said that he would immediately provide necessary assistance including funds to operate the fund and urged Kumar Pant, president of the Non-Resident Nepali Association, to complete the registration process of the company within a week.

Kumar Pant, president of the Non-Resident Nepali Association, said that the company registration process is underway now and the work will start soon after registration. According to Pant, the Non-Resident Nepali Association will have 10 percent share in the company and 85 percent will be owned by Nepalis living abroad. IPO will be issued for investment by non-resident Nepalis.

Chairman Pant also informed that proposals have already been received on investment areas. He said that Nepalis living abroad are eager to invest in Nepal’s infrastructure sector.

Minister for Industry, Commerce and Supplies Lekhraj Bhatta, Finance Secretary Shishir Kumar Dhungana, Revenue Secretary Ram Sharan Pudasaini, Governor of Nepal Rastra Bank Maha Prasad Adhikari, Economic Adviser to the Finance Minister Dr.Prakash Kumar Shrestha, Chief Executive Officer of the Investment Board Sushil Bhatta and others were present.