Nepal Invests is launched by CDC, FMO and SDC to accelerate investment in Nepal
Press Release, 19 March 2021
KATHMANDU: CDC Group, the UK’s development finance institution, FMO, the Dutch development bank and Swiss Agency for Development and Cooperation SDC have launched Nepal Invests, a platform that will drive increased investment into the country.
This group comprising of Development Finance Institutions (DFIs) and a Development Partner, will complement existing efforts to attract more investments and advance the development of the country, by channelling efforts to unlock the possibilities of investing patient, flexible capital to support private sector growth and innovation – helping to solve the biggest development challenges in Nepal.
The COVID-19 pandemic has challenged the world. For Nepal, it is clear that there will be significant economic pressure as a result of potentially volatile remittance inflows, and a surge in demand for finance at a time when the crisis has significantly reduced access and option of capital for SMEs. Nepal Invests will support the economic recovery from COVID-19 in multiple ways; partnering to address business environment challenges, exploring innovative ways to finance SMEs and increasing the skills and capacity of local investment professionals. These measures are designed to better prepare Nepal’s market for increased investment from development finance institutions, frontier players, and intermediate vehicles in order to support the medium-term economic recovery.
Nepal Invests represents a ground-breaking collaboration between DFIs and development partners in the country, reflecting shared objectives to support business growth, strengthen investment and accelerate Nepal’s economic recovery from COVID-19. The platform intends to mobilise additional supporting projects and contributions from other DFIs and development partners, whilst engaging closely with the needs of the Nepalese private sector.