KATHMANDU, DECEMBER 20
The Japan International Cooperation Agency (JICA) today signed a $10 million investment agreement with Dolma Impact Fund II (DIF II), a private equity (PE) fund managed by Dolma Fund Management (DFM).
According to DFM, JICA's investment will be mainly utilised for equity investment in healthcare companies, IT/digital companies, and renewable energy projects in Nepal.
JICA is co-investing alongside development financial institutions (DFIs) such as the FMO, the Dutch entrepreneurial development bank; British International Investment, the UK's development finance institution and impact investor; Swedfund, the Swedish development finance institution; the International Finance Corporation (IFC); and the United States International Development Finance Corporation (DFC).
JICA's investment is part of the final close of DIF II, which brings the fund corpus to $71.96 million.
Likewise, the investment will be focused to uplift the livelihood of earthquake-affected in Nepal and creating promising domestic industries and job opportunities.
According to JICA, DFM contributes to the development of the stock market and PE fund market in Nepal as a leading PE fund manager dedicated to the country.
Furthermore, DIF II will invest in consideration of gender perspectives, following '2X Challenge: Financing for Women'.
This project, therefore, will contribute to SDGs (sustainable development goals) goal 5 (gender equality), goal 7 (affordable and clean energy), and goal 8 (decent work and economic growth).
A version of this article appears in the print on December 21, 2022, of The Himalayan Times.
