NRNA Nepal Development Fund Established With Rs 10 Billion Capital
April 21, 2021 | Investopaper
NRN Nepal Development Fund has been established in Nepal with a capital of Rs. 10 billion to invest in infrastructure, productive and other sectors. NRN Nepal Development Fund will have a share investment of Rs 9.50 billion from non-resident Nepalis and Rs 500 million from the Government of Nepal.
As per the agreement reached between the Government of Nepal and the Non-Resident Nepali Association at the Investment Conference held in 2075 BS, the Government of Nepal will invest five percent in the company to be established by the Non-Resident Nepali Association.
Finance Minister Bishnu Prasad Poudel said that Nepal was investment friendly in all respects and urged the non-resident Nepalis to play the role of investment ambassadors.
Upendra Mahato, the founding president of the Non-Resident Nepali Association and the president of the fund, said that the company would bring capital, corporate culture, good governance, and technology.
The main objective of the company is to invest in Nepal’s enterprise, business and transportation, infrastructure and other sectors. The Non-Resident Nepali Association has stated that there is a plan to issue primary shares soon targeting non-resident Nepalis.
