Legal amendment to Nepal Development Fund targeting NRN approved
KATHMANDU:- The necessary legal amendments have been approved for the Nepal Development Fund, an initiative launched to channel investments from Non-Resident Nepalis into Nepal.
Kumar Pant, the former president of the association, stated that this move paves the way for Non-Resident Nepalis across the globe to purchase shares in the Nepal Development Fund while residing abroad.
He stated that the necessary legal amendments have been approved following continuous efforts over the past seven years. It has been indicated that provisions will be made for the fund’s shares to be offered directly through an Initial Public Offering (IPO).
With the approval of the legal amendments, it is expected that Non-Resident Nepalis (NRNs) living abroad will find it easier to invest in the Nepal Development Fund. This initiative is believed to facilitate the inflow of capital from NRNs into Nepal while contributing to the country’s economic development and job creation.
