WorldLink secures CDC investment

KATHMANDU: Nepal’s leading internet service provider WorldLink has received huge foreign direct investment from CDC Group of the United Kingdom.

The investment amount is about $12 million that is Rs 1.35 billion. The investment is expected to facilitate WorldLink in aggressively expanding its internet network throughout the nation reaching out to the most marginalised areas, as per a media release.

CDC Group has made the investment in WorldLink as equity, securing 10 per cent share in the company. The new investment will help generate additional jobs for 1,000 individuals in WorldLink, which currently employs around 3,000 people.

The current funding is CDC’s second investment here in Nepal, with the first being a three-year loan of $15 million to NMB Bank.