Meeting with Finance Minister agrees to complete procedures to operate NRN Fund

Kathmandu, Aug 18: Preparations are on to implement the NRN Nepal Development Fund.     

Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, Non Resident Nepali Association (NRNA) President Dr Badri KC, founding President Dr Upendra Mahato and others met at the Finance Ministry today to discuss about it.     

According to the Secretariat of the Finance Minister, the meeting agreed to complete all procedures for bringing the Fund into operation by the third week of Bhadra-2081 BS (first week of September, 2024).     

On the initiation of the NRNA and with the coordination and cooperation of the government, the Fund amounting to Rs 10 billion is said to be meant for investment in the infrastructural development sector in Nepal.     

The government shall invest five percent in the Fund and the NRNA the remaining 95 percent. (RSS)