Seems the infrastructure projects in Nepal are awaiting immediate support! The resuming of Nepal Infrastructure Bank\u2019s (NIB) operations proves this fact.<\/p>\n
The country\u2019s only infrastructure bank has resumed its operations on March 06, 2019 with an aim to generate finances for the local infrastructure projects.<\/p>\n
The Minister for Finance Yuba Raj Khatiwada inaugurated the bank that has been developed under the public-private partnership model.<\/p>\n
The bank has resumed its operations with the largest paid-up capital of NPR 20 billion and the authorized capital of NPR 40 billion.<\/p><\/blockquote>\n
With headquarters in Kathmandu, the bank will expand to all local regions with branch offices in every province.<\/p>\n
The infrastructure bank will play a key role in addressing financial needs and fund crunch being faced by Nepali infrastructure sector.<\/p>\n
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It is noteworthy that many local banks and financial institutions have expressed their reluctance to offer fund funds for long-term infrastructure projects. Now, the infrastructure bank is expected to fill that gap!<\/p>\n
Addressing the inauguration event, Khatiwada, who served as the governor of the central bank in the past, called on need for utilization of banking services.<\/p>\n
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NIB came into operational much before the expected date. Earlier in February 2019, the tentative date for resuming NIB operations was set as June 2019<\/a>.<\/p>\n
NRB issued an operating license to NIB in a decision on February 11, 2019.<\/p>\n