Legal Amendments Approved for Nepal Development Fund to Attract Non-Resident Nepali Investment
Summary
Legal amendments have been approved to let non-resident Nepalis invest in the Nepal Development Fund from abroad through an IPO. The fund will have total capital of 10 billion rupees, with the Nepal government holding a 5 percent stake.
Key Points
- Legal amendments needed for the Nepal Development Fund have been approved.
- Non-resident Nepalis will be able to buy shares of the fund while living abroad through the IPO.
- The fund is expected to channel diaspora capital into Nepal and support economic development and job creation.
- The Nepal government will hold a 5 percent investment in the fund, which has total capital of 10 billion.
