Kathmandu. The NRN Nepal Development Fund has been established in Nepal with a capital of Rs. 10 billion to invest in infrastructure, productive and other sectors.

As per the information given in the press conference organized by the Ministry of Finance and the Non-Resident Nepali Association, 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.

Governor Maha Prasad Adhikari at Nepal Rastra Bank said that the company, which came as a public-private partnership, has raised more hopes, adding that there are opportunities for investment in many sectors in Nepal.

Kumar Pant, president of the Non-Resident Nepali Association, said that the amount to be invested in the fund will reach more than Rs 50 billion in a few years. Founder President of Non-Resident Nepal Association and President of the Fund Dr. Saying that he would bring capital, corporate culture, good governance, technology, etc., Upendra Mahato hoped for cooperation with everyone including the government.

The company, which is a non-resident Nepali promoter with a share investment of Rs. 500 million from the Government of Nepal, has already committed Rs. 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 share IPO targeting non-resident Nepalis soon.