{"id":7425,"date":"2018-05-22T14:23:48","date_gmt":"2018-05-22T08:53:48","guid":{"rendered":"https:\/\/www.nepalisansar.com\/?p=7425"},"modified":"2019-05-16T14:54:23","modified_gmt":"2019-05-16T09:24:23","slug":"nepal-welcomes-its-first-infrastructure-development-bank","status":"publish","type":"post","link":"https:\/\/www.nepalisansar.com\/news\/nepal-welcomes-its-first-infrastructure-development-bank\/","title":{"rendered":"Nepal Welcomes its First Infra Development Bank!"},"content":{"rendered":"
In a move supporting the country\u2019s infrastructure projects, Nepal\u2019s central Bank pitched for establishment of the country\u2019s first infrastructure bank.<\/p>\n
Towards this end, Nepal Rastra Bank issued a Letter of Intent (LoI) to the country\u2019s renowned public-private equity platform Emerging Nepal directing the latter to set up the Infrastructure Development Bank (IDB).<\/p>\n
IDB, Nepal\u2019s first such bank, with nearly 40 promoters is set to focus on financing mega infrastructure projects of the country and will begin its operations officially in the next six months.<\/p>\n
According to NRB spokesperson Narayan Prasad Paudel, the process followed IDB\u2019s deposit of 50 percent of its paid-up capital (45 percent in six commercial banks and 5 percent in the application phase) for setting up the needed infrastructure.<\/p>\n