KATHMANDU / Nepal Infrastructure Bank (NIFRA) and International Finance Corporation (IFC) singed a Memorandum of Understanding (MoU) today for the development of infrastructure projects in Public Private Partnership (PPP) modality in Nepal. Chief Executive Officer (CEO) of NIFRA Ram Krishna Khatiwada and Manager, Asia Pacific PPP Transaction Advisory Services of IFC Thomas Lubeck signed the MoU on behalf of their respective agencies at a program, organized in NIFRA.
As part of the MoU, NIFRA and IFC will
collaborate on accelerating the pace of investment in infrastructure sector by
bridging the gap in financial and technical resources required for the
country’s infrastructure development. IFC will support NIFRA in project
identification and screening; preliminary assessment of the identified projects
and project specific structuring and bidding assistance in addition to capacity
building of the public and the private sector.
NIFRA CEO Khatiwada said, “The MoU
between NIFRA and IFC marks a major milestone in accelerating the
infrastructure development in Nepal.” He further added that the collaboration
of NIFRA and IFC will be instrumental in identifying and developing key infrastructure
projects in the country.
Lubeck said, “Nepal's private sector has
enormous potential to drive economic growth and create jobs." He also said
the partnership merges IFC's global expertise in transaction structuring with
NIFRA’s deep local presence. “This creates a winning combination to harness the
strength of private sector to invest and deliver improved Infrastructure for
the people of Nepal," he said.
Similarly, IFC Resident Representative in Nepal Babacar S. Faye said, "Our partnership with NIFRA Bank will help to further develop public-private partnerships (PPP) ecosystem in Nepal while contributing towards mobilizing more private capital and expertise, particularly for critical infrastructure projects.”. He also said the collaboration is possible because NIFRA and IFC are both strongly committed to promoting sustainable economic growth and improving the lives of people in Nepal. The signing ceremony was attended by senior management of NIFRA and IFC in Kathmandu.
