Kathmandu, March 6:
Nepal Infrastructure Bank Limited has been established in order to contribute to the country's economic development through investments in infrastructure.
The bank possessing authorized capital of Rs 40 billion and running capital of Rs 20 billion has come into operation from today.
Finance Minster Dr Yubaraj Khatiwada inaugurated the operation of the bank amidst a programme organised here today. In regard to ownership composition, the general public has the share of 40 percent, individuals 4.99 percent, government 10 percent, 'A' grade banks 20.89 percent and nsurance Company 18.97 percent in the bank.
On the occasion, Minister Khatiwada stressed that the bank should play the supplementary role in strengthening fiscal systems. The minister suggested the bank to mobilise capital in long-term infrastructure projects for the development of the country and called for investment in the areas of renewable energy, micro hydropower, tourism and urban infrastructure.
Nepal Rastra Bank Governor Dr Chiranjibi Nepal directed the bank to maintain transparency and also urged to work to support the national goal towards attaining economic growth rate.
Bank Chair Anuj Agrawal pledged to direct their actions to materialise the campaign of 'Prosperous Nepal, Happy Nepal'.
The broader objective of the bank is to accelerate the infrastructure development by bringing the financing gap in infrastructure and other sectors in Nepal.
Beware of small expenses; a small leak will sink a great ship.Benjamin Franklin, inventor and diplomat