December: Nepal Infrastructure Bank Limited (NIFRA) and International Finance Corporation (IFC) have signed an agreement for infrastructure development in Nepal. The two institutions signed the agreement to advance the infrastructure development projects based on public-private partnership. 

NIFRA’s Chief Executive Officer Ram Krishna Khatiwada and Thomas Lubeck Regional Manager, PPP Transaction Advisory Services, South Asia and East Asia Pacific at IFC - International Finance Corporation have signed the agreement. 

As per the agreement, IFC will provide technical and financial assistance to NIFRA to speed up infrastructure development based on private-public partnership in Nepal.
Similarly, the IFC will collaborate with NIFRA to identify projects and conduct a primary evaluation and capacity development of the identified projects. 

NIFRA CEO Khatiwada said that the agreement would be a milestone to expedite Nepal’s infrastructure development. IFC’s representative Thomas Lubeck said that the collaboration with NIFRA would play a huge contribution to Nepal’s economy and infrastructure development.
NIFRA was established with a motto to provide financial resources for infrastructure development based on public-private partnership. 
Since its inception, NIFRA has been investing in hydropower projects, tourism, hotels, and hospitals.