Tag Archives: IFC

IFC disburses $3.8 million to Probiotech to accelerate post-earthquake recovery, boost farmer incomes

IFC – a member of the World Bank Group – and Private Sector Window of the Global Agriculture and Food Security Programme have disbursed $3.8 million to Probiotech Industries, a commitment announced last year, reaffirming IFC’s and Nepali private sector’s

IFC, FMO join hands to invest in Nepal hospitality

IFC – a member of the World Bank Group – will invest $3million in Nepal Hospitality and Hotel (NHH) to develop a three-star hotel in Thamel, Kathmandu. The investment will increase the country’s capacity in the mid-market hotel segment, create

ADB hosts Partnership Forum for Nepal, Mahat presents bleak economic picture

The Asian Development Bank (ADB) hosted a Partnership Forum for Nepal today during its 48th annual meeting to affirm international support for the country, following the devastating April 25 earthquake. At the meeting – jointly chaired by ADB president Takehiko

Corporate Governance seminar on card

National Banking Institute (NBI) – earlier National Banking Training Institute (NBTI) – in association with IFC of World Bank Group and with support from Asian Development Bank (ADB) is conducting annual conference ‘Corporate Governance:  Where have we failed’ on September

Cabinet approves ADB local currency bond

The government today approved Asian Development Bank’s (ADB) Nepali rupee bonds worth up to Rs 50 billion to raise funds from the domestic market to finance various development projects including eight hydropower projects. A Cabinet meeting’s decision today has made

IFC, GAFSP to invest $3.8m in Probiotech

Private sector lending arm of World Bank Group International Finance Corporation (IFC) and private sector window of Global Agriculture and Food Security Programme (GAFSP) are investing $3.8 million in Probiotech Industries to enhance poultry farm productivity and boost incomes in

Government set to allow ADB rupee bonds

The government is preparing to approve Asian Development Bank (ADB) local currency bond. The Cabinet is going to approve the ADB’s local currency bonds worth Rs 50 billion, said finance secretary Suman Sharma. The ADB had submitted a proposal –

Manual clearance poses ‘systemic risk’: NRB

Manual clearance of high-volume cheques poses a greater systemic risk to the financial system, according to the central bank. The central bank review report of National Payment System revealed that the current arrangement on high-volume cheque payment poses a systemic

World Bank assures increased investment in Nepal

The World Bank has assured Nepal increased assistance to help the country graduate to a developing country by 2022. While returning from two-week long US and Mexico visit – to take part in the World Bank’s programmes – today finance

IFC to lend $6 billion for hydro projects

The International Finance Corporation (IFC) has pledged financial support worth $6 billion to develop 3000 MW hydropower projects in Nepal. IFC executive vice president Jin -yong Cai expressed IFC’s willingness in assisting Nepal during his meeting with finance minister Dr

World Bank increasing aid to Nepal

World Bank has pledged to increase its aid to Nepal. World Bank managing director Sri Mulyani Indrawati during a meeting with finance minister Dr Ram Sharan Mahat in Washington assured him that the multilateral donor is increasing its aid to

Green technology benefits Gokarna Forest Resort Rs 7.41 million

International Finance Corporation (IFC) – a member of the World Bank Group – is working with Clean Energy Development Bank to assist Gokarna Forest Resort implement energy and water saving measures and adopt a clean, green growth path. According to

Government approves IFC’s local currency bonds worth Rs 50 billion

For the first time, the government has permitted an international financial institution to issue Nepali-rupee bonds to raise funds from the domestic market to finance mega projects. The cabinet meeting today gave a nod to International Finance Corporation (IFC) to

Investment with efficiency key to economic growth: FM

Finance Minister Ram Sharan Mahat has asked to increase efficiency in investment to get more yield. Addressing Samana banking prize ceremony organised by Samana Banking Prize Trust in the capital here today, he said that the projects’ cost has escalated

Finance Ministry forwards IFC’s local currency bond proposal to cabinet

Finance Ministry has today forwarded local currency bond issuance proposal of the International Finance Corporation (IFC) to the cabinet for approval. Once the cabinet approves, Finance Ministry, central bank and Securities Board of Nepal also need to give approval to

Government richer, people poorer, development expenditure low

The government has never been this rich in the history as its treasury swells by Rs 68 billion due to government’s inefficiency in spending capital expenditure. The government has been able to spend only Rs 17.7 billion capital budget –

Finance Minister asks World Bank to invest in infrastructure

Finance Minister Dr Ram Sharan Mahat has asked the World Bank to invest in infrastructure projects in Nepal. Since the government is able to finance social services from its internal resources, the World Bank should concentrate on infrastructure development, like

South Asia needs to pool resources for the regional development: Governor

Central bank governor Dr Yuba Raj Khatiwada emphasised on pooling resources from outside the South Asian region, given limited fiscal space in the countries in the region. Adressing a three-day brainstorming workshop on ‘Raising Resources for Social Economic and Infrastructure