KATHMANDU: The Project for Agricultural Commercialisation and Trade (PACT) under the Ministry of Agricultural Development has taken initiatives to set up an Agri-business Incubation Centre (ABIC) for the first time in Nepal.

According to PACT, the ABIC would come into operation within the next six months.

The World Bank's Infodev and International Finance Corporation have would provide a financial support for the same.

PACT Director Govinda Prasad Sharma informed that the ABIC would provide skills and consultation to agricultural entrepreneurs.

Consultation includes service and network construction, market network and study and financial access, according to him.

Meanwhile, the Practical Action UK and the Kathmandu University School of Management signed an agreement to provide the consultation service, on Friday.

The ABIC would be financially backed by PACT until the organisation would be able to operate on its own, PACT informed.