Investment Board to set up ‘project bank’ for convenience of investors

Kathmandu / Dec 26: The Investment Board is to set up a ‘project bank’ targeting investors from home and abroad. The bank is to be established for the convenience of people keen to invest in big physical infrastructure projects in the country.

The Board expects that the presence of such bank would help attract investors to the country.

A total of 122 projects related to energy, transport, agriculture, mines and minerals, tourism, banking , health and education sectors and IT and IT-related products are likely be included in the system of project bank.

According to Board Chief Executive Officer Mahaprasad Adhikari the Board discussed with various ministries and departments before deciding to set up a bank.

Information about the estimated costs of the projects, sector of investment, government cooperation for them and local requirements will be available from the bank.

Meanwhile, the Board has begun discussions about its plan to implement the 650- megawatt Tamakoshi III Hydropower Project with domestic investment. The Norwegian company Statkraft abandoned the project. RSS