Nifra signs MoU with Investment Authority of Province 1

Kathmandu, Feb. 16

Nepal Infrastructure Bank Limited (Nifra) is all set to support Province 1 in infrastructure development through financial and technical cooperation and support.

The bank signed a Memorandum of Understanding (MoU) with the Public Private Cooperative Partnership and Investment Authority (PPCPIA) of the province to extend necessary support and offer the required services.

The main aim of this understanding is to identify infrastructure projects in the province that are technically and financially feasible, conduct financial and technical analysis of potential projects, and help in their marketing.

Likewise, the bank will also provide essential support in finding the developer of the project, manage investment from the bank or lead the consortium for equity or loan investment, and provide other cooperation in developing infrastructure projects and implementing them.

Authority's Director Dr. Saroj Koirala said that initial study and analysis of projects like Koshi Refreshment Centre, Beema Bambo Project, Electricity Bus Project and Udayapur Cement Revitalisation Project is completed.

The MoU was signed by Dr. Koirala and Nifra's Chief Executive Officer Ram Krishna Khatiwada in the presence of the province's Chief Minister Sherdhan Rai.

Nifra said that it would continue signing the MoU with other provinces to support them in their drive.

Published in The Rising Nepal daily on 17 February 2021.