CDC's investment of NPR 1,350 mn (c. $12mn) will help fund WorldLink's ambitious expansion of its fiber-optic network throughout Nepal. This is CDC's first direct equity investment in the country.
Nepal's geographical context (i.e. landlocked and mountainous) has meant challenging conditions for internet connectivity roll out. Compared to other countries in Asia, access to digital services remains low in Nepal and presents a real challenge for most of the country's communities and the development of businesses. Improving access to affordable and quality internet is central to Nepal's development and economic growth, and a key part of UN Sustainable Development Goal 9.
Our investment will help the company to connect hundreds of thousands of households and small/medium enterprises to high-quality internet. WorldLink is already a large employer, particularly of young people, with nearly 3,000 employees. CDC's investment will support its hiring of over 1,000 additional employees.
Environmental and social aspects
CDC is supporting the company to build an environmental and social management system and strengthen its health and safety standards, including for contractors, across all operations.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Communications and IT Services
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Equity
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- March 2019
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.