According to DFC, the proposed Fund is expected to have a highly developmental impact in Nepal through equity investments in growing portfolio companies operating primarily among the technology, healthcare, and renewable energy sectors. Approximately 40 percent of Nepali firms report a lack capital as a major business constraint, with financing options dominated by banks requiring relatively high interest rates and collateral requirements. The Fund is expected to address these firms’ lack of growth capital, demonstrate the value of the private equity model in Nepal, and bolster otherwise weak levels of FDI. Fund investments are also expected to result in substantial permanent employment growth and to address Nepal’s low levels of permanent paid employment. These types of jobs have accounted for a small fraction of newly created jobs in Nepal during the last decade.
The Fund will invest growth and construction capital in Nepal’s renewable energy, health, and technology sectors.
No contact details provided at the time of disclosure.
ACCESS TO INFORMATION
Unlike many other development finance institutions, DFC does not currently have an access to information policy.
Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia
ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)
The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.
You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability