Kathmandu. The International Finance Corporation (IFC) has been advised to provide a $14 million (Rs 1.93 billion) loan to WorldLink Communications.
Talwar Thakur and Associates (TT&A), a world-renowned legal consulting firm in India, and Pioneer Law Associates, a Nepali organisation, have suggested this.
In addition, IFC will provide a partial loan guarantee of up to US$ 12 million (Rs 1.65 billion) to support the loan capital for WorldLink and Data World to the local commercial bank (Standard Chartered Bank).
In this way, worldlink communication limited has opened the way for availing a total loan facility of Rs 3.58 billion from both sources.
According to the statement published by TT&A}, WorldLink Communications and its subsidiary Data World have been advised to provide long-term credit facilities worth US$ 14 million i.e. Rs 1.93 billion.
According to TT&A, the TT&A team was led by gautam saha and nikhil bahl, business partners of the organization, with the support of managing assistant Siddharth Tandon and associate Mansi Mehta. Senior associate Daksha Midda has also helped. Similarly, Pioneer Law Associates, a Nepali legal consulting organization, provided Nepal Legal Consulting Service for IFC.
WorldLink is the largest internet and network service provider in Nepal and one of the most prominent information technology companies in the country.
IFC’s loan investment, supported by the International Development Association’s private sector window local currency facility, aims to support nepal’s fiber network expansion and development plans of data centers across the country. TT&Co believes that the implementation of this scheme will help in bridging the digital gap among Nepali consumers and advance inclusive growth.
Earlier on July 29, IFC and Standard Chartered WorldLink Communications were to invest Rs 29 million (Rs 4.9 billion) for the purpose of expanding bank fiber network and setting up data centers.
