Minister Ghising vows to strengthen and expand TDF

Kathmandu, Oct 18: Minister for Urban Development, Kulman Ghising, has pledged to make the Town Development Fund (TDF) more effective by expanding its scope and jurisdiction.

Speaking during a briefing on the Fund’s activities today, the Minister emphasized that the Fund, which operates under the Ministry of Urban Development, will no longer remain inactive or underutilized. He committed to enhancing its effectiveness by channeling investments into areas with high potential for impactful results. 

Among the key areas he highlighted for future investment were the operation of electric public transportation, building of charging stations, and the construction of e-mobility infrastructure.

He also suggested that waste-to-energy production could be another promising sector for the Fund’s investment.

Minister Ghising added that Nepal is in the process of obtaining accreditation from the Green Climate Fund (GCF). Once accredited, Nepal will be eligible to receive significant grant assistance for green energy-related projects.

TDF Executive Director Binod Prakash Pandit shared updates on the Fund’s financial standing. According to him the Fund has an equity of Rs 7 billion. It has received loans amounting to Rs 5.19 billion from the Asian Development Bank, Rs 120 million from the World Bank, and Rs 2 billion from the Government of Nepal.

So far, the Fund has disbursed loans totaling Rs 16 billion.

The TDF provides loans, grants, and technical support for various urban infrastructure projects, including water supply and sanitation, municipal finance, and capacity building programs.

Additionally, there has been a proposal to use the Fund for the reconstruction of urban buildings damaged during the September Gen Z demonstrations. (RSS)