KATHMANDU, April 22: The government has decided to establish an Alternative Development Finance Fund with an authorized capital of Rs 100 billion and a paid-up capital of Rs 25 billion to mobilize investment in the infrastructure sector.
The fund is being established to develop sustainable infrastructure by ensuring necessary resource management. For this purpose, the government has registered a bill in the Parliamentary Secretariat.
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It has been proposed that the government will hold a 51 percent share in the fund.
The Ministry of Finance has stated that the bill was registered because a dedicated law on alternative development finance is necessary to address the appropriate use of domestic and foreign investments, financial instruments, institutional structure, monitoring, and evaluation.
The bill states that a legal framework is necessary to mobilize resources for national priority projects by addressing the current shortage of financial resources to promote employment, ensure sustainable economic development, and secure long-term investment in infrastructure projects through alternative development finance sources.
According to the bill, the fund will be allowed to invest in the development and operation of technology parks, tourism, sports, urban and digital infrastructure, as well as cable car systems.
