Nepal Infrastructure Bank (NIB) has started to make investments in projects with an aim to accelerate the development of infrastructure in the country.
The bank has invested in the 32-megawatt (MW) Karuwa-Seti hydropower project in Machhapuchhre Village Municipality of Kaski district. The project – worth Rs 5.8 billion – is being financed by a consortium of banks led by Nepal Infrastructure Bank.
The first project that the infrastructure bank is investing in will be co-led by Himalayan Bank and Sanima Bank, which will together be chipping in Rs 2.56 billion. The remaining cost of the project will be financed by the promoter of the project. “The consortium of banks will be investing a total of Rs 4.06 billion in the project with Nepal Infrastructure Bank providing Rs 1.5 billion,” according to a press note of Nepal Infrastructure Bank. “
Nepal Infrastructure Bank also has several projects in pipeline and will soon sign agreements to implement five mega projects, the Nepal Infrastructure Bank press note reads, adding that it will very soon sign investment pacts to construct a star rated hotel and another hydropower project.
Established with an aim to bridge the infrastructure financing gap by raising resources from domestic and international market including blended financing, Nepal Infrastructure Bank is the first private sector-led financial institution in the country solely focused on financing infrastructure development.
Nepal Infrastructure Bank received a national level infrastructure development bank operation licence from the central bank to conduct financial transactions on February 10. The bank was established with joint investment from the government along with various commercial banks, insurance firms, microfinance companies, private businesses and a group of entrepreneurs.
The Nepal Infrastructure Bank has authorised capital of Rs 40 billion, issued capital of Rs 20 billion and paid-up capital of Rs 12 billion, though other private banks have also increased their paid up capital more than the Nepal Infrastructure Bank.
The Nepal Infrastructure Bank – that includes 10 per cent government and 90 per cent private sector share – has been established with an objective to play a vital role in the infrastructure development of the nation, more specifically in the areas of construction and development of transportation, agriculture, energy, tourism, special economic zones, advanced urbanisation infrastructure and information technology along with other areas of infrastructure.
The bank has invested in the 32-megawatt (MW) Karuwa-Seti hydropower project in Machhapuchhre Village Municipality of Kaski district. The project – worth Rs 5.8 billion – is being financed by a consortium of banks led by Nepal Infrastructure Bank.
The first project that the infrastructure bank is investing in will be co-led by Himalayan Bank and Sanima Bank, which will together be chipping in Rs 2.56 billion. The remaining cost of the project will be financed by the promoter of the project. “The consortium of banks will be investing a total of Rs 4.06 billion in the project with Nepal Infrastructure Bank providing Rs 1.5 billion,” according to a press note of Nepal Infrastructure Bank. “
Nepal Infrastructure Bank also has several projects in pipeline and will soon sign agreements to implement five mega projects, the Nepal Infrastructure Bank press note reads, adding that it will very soon sign investment pacts to construct a star rated hotel and another hydropower project.
Established with an aim to bridge the infrastructure financing gap by raising resources from domestic and international market including blended financing, Nepal Infrastructure Bank is the first private sector-led financial institution in the country solely focused on financing infrastructure development.
Nepal Infrastructure Bank received a national level infrastructure development bank operation licence from the central bank to conduct financial transactions on February 10. The bank was established with joint investment from the government along with various commercial banks, insurance firms, microfinance companies, private businesses and a group of entrepreneurs.
The Nepal Infrastructure Bank has authorised capital of Rs 40 billion, issued capital of Rs 20 billion and paid-up capital of Rs 12 billion, though other private banks have also increased their paid up capital more than the Nepal Infrastructure Bank.
The Nepal Infrastructure Bank – that includes 10 per cent government and 90 per cent private sector share – has been established with an objective to play a vital role in the infrastructure development of the nation, more specifically in the areas of construction and development of transportation, agriculture, energy, tourism, special economic zones, advanced urbanisation infrastructure and information technology along with other areas of infrastructure.
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