IFC expertise will help issue Local Currency Bond soon

IFC expertise will help issue Local Currency Bond soon

International Finance Corporation (IFC) expertise will help issue Local Currency Bond soon, said finance minister Shankar Prasad Koirala. "The government has already decided to let the international agencies issue Local Currency Bond in Nepal," he told IFC South Asia director Serge Devieux, here at his office today. "The regulatory institutions will soon bring regulations to facilitate the financial instrument that is expected to help long term financing for the mega projects." Hailing IFC for its investment in energy for the first time, he said that the IFC will invest in other sector also in future. Devieux, on the occasion, opined that the IFC experience of issuing Local Currency Bond in India will help its issue in Nepal. "The IFC is interested to invest in energy sector," he said, adding that the timely Constituent Assembly (CA) election has also increased confidence in the development partners. "The current share market upward movement is its reflection." The stock market has surged to over 800 points after the successful CA election from the around 600 points before the election due to hope of political stability and liberal government.
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