Kathmandu: Preparations are underway to implement the NRN Nepal Development Fund.

In this context, a discussion took place at the Ministry of Finance involving Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, President of the Non-Resident Nepali Association (NRNA) Dr. Badri KC, and founding president Dr. Upendra Mahato, among others.

During the meeting, an agreement was reached to complete the necessary procedures to operationalize the Development Fund by the third week of Bhadra 2081 (early September 2024).

A fund of NPR 10 billion is being established with the coordination and cooperation of the Government of Nepal and the initiative of the Non-Resident Nepali Association, aimed at investing in the infrastructure sector in Nepal.

The NRN Nepal Development Fund Limited will have 5% investment from the Government of Nepal and 95% from non-resident Nepalis.