Nepal | November 13, 2019

Nepal Infrastructure Bank gets operating licence

Himalayan News Service

Kathmandu, February 11

Nepal Infrastructure Bank Ltd has received the operating licence from Nepal Rastra Bank to conduct financial transactions. 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.

As per a press statement released by the bank, it received the operating licence as a national level infrastructure development bank from the central bank today.

The bank has authorised capital of Rs 40 billion, issued capital of Rs 20 billion and paid-up capital of Rs 12 billion. The investment proportion of the bank includes 10 per cent from the government and 90 per cent from the private sector.

The bank 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 zone, advanced urbanisation infrastructure and information technology along with other areas of infrastructure.

The press statement adds that the bank will do its best to bring together the public and private sector in order to achieve its core objectives of infrastructure financing, sourcing of long-term funds from international and domestic capital markets, and investing in shares of companies operating in infrastructure development and other services offered by the bank.

A version of this article appears in print on February 12, 2019 of The Himalayan Times.

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