Preparations Underway to Implement NRN Nepal Development Fund

Preparations are in full swing to implement the NRN Nepal Development Fund, with discussions held today at the Finance Ministry to expedite the process. The meeting, chaired by Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel, included key figures such as Non-Resident Nepali Association (NRNA) President Dr. Badri KC and founding President Dr. Upendra Mahato.

According to the Secretariat of the Finance Minister, the meeting resulted in an agreement to complete all necessary procedures to bring the Fund into operation by the third week of Bhadra 2081 BS, which falls in the first week of September 2024.

Initiated by the NRNA in coordination and cooperation with the government, the NRN Nepal Development Fund aims to mobilize Rs 10 billion for investment in Nepal’s infrastructure development sector. The government is set to contribute five percent to the Fund, with the remaining 95 percent to be provided by the NRNA.

This collaborative effort is expected to play a significant role in boosting infrastructural development across the country, leveraging the financial resources and commitment of the global Nepali diaspora.