May 28, 2020 | Investopaper
The International Finance Corporation (IFC), part of the World Bank Group, is set to increase investment through the private sector to revive the economy following the Corona epidemic. IFC’s investment in Nepal has increased six and a half times in the last one year. By June 2020, IFC’s investment will reach US $500 million.
Till last year, IFC’s investment was US $ 75 million. The rapid growth in investment in the last year also includes the investment being made in the Upper Trishuli-1. The IFC has stated that the investment will reach 1.2 billion US dollars by 2023.
The IFC has provided a US $14 billion aid package to address the impact of Covid-19. A large part of the financial facilities provided by IFC will be mobilized through its customer banking institution. It is said that in addition to financial facilities for trade, working capital support and interruptions in the supply system will provide medium-term financial facilities to the struggling private companies.