IFC leads other lenders in advancing US$453m loan to Nepal’s energy company for hydroelectric power plant construction

NEPAL —IFC, a member of the World Bank Group, and a consortium of other lenders have finalized a $453 million debt financing package that will support the construction of a landmark hydroelectric plant in central Nepal. The plant according to an IFC press release, will increase Nepal’s electricity supply by one-third from today’s levels and provide clean, reliable power to some 9 million people. IFC is the lead arranger of the debt package, which includes eight other lenders, and is one of the largest foreign direct investments in Nepal’s history.…

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WorldLink’s expansion efforts receives a boost from UK’s CDC Group

NEPAL- CDC Group, UK’s development finance institution, has in October this year, announced its investment in WorldLink, the largest private sector internet service provider in Nepal. The investment will help fund WorldLink’s ambitious expansion throughout Nepal, reaching further remote territories and connecting hundreds of thousands of households and small enterprises to the internet. Dileep Agrawal, Managing Director, WorldLink said: “We feel honoured to be the first CDC equity investment in Nepal. “With CDC’s backing, our ambition is to transform Worldlink into a world-class company that will serve as a model…

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