Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government has decided to increase its stake in the International Finance Corporation (IFC), World Bank Group financing window.
A meeting of the Council of Ministers, on Monday, decided to purchase 3,558 units share of IFC. After buying additional shares, Nepal will have total 9,825 unist shares in IFC. Each unit of share of IFC costs $ 1000.
The government decided to purchase IFC’s share of two categories, General Capital Increase and Special Capital Increase. After this additional share procurement, Nepal’s voting power, on IFC’s board, will increases to 0.07 per cent form 0.06 per cent.
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