By Karuna Thapa
Kathmandu, April 4
The Special Economic Zone Authority (SEZ) and the Nepal Infrastructure Development Bank have signed a Memorandum of Understanding (MoU) (NIFRA). NIFRA would progressively spend Rs 5 billion on the Bara border and attract funding from global multinational firms to construct a new special economic zone in Panchkhal, according to SEZ Executive Director Chandika Bhatta.
NIFRA will invest in blocks A and B of Simara SEZ within six months to grow the industry,
according to the agreement. He also stated that the bank will assist in the development of a better-infrastructured economic zone at Panchkhal, Kavre. SEZ Executive Director Dr. Chandika Bhatt and NIFRA Chief Executive Officer Ram Krishna Khatiwada signed the agreement.
