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CDC Group Establishes Presence in Nepal

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CDC Group Establishes Presence in Nepal
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June 22: CDC Group Plc, a UK-based impact investor focusing on investments in Africa and South Asia, has appointed Rabi Rayamajhi as its Country Representative for Nepal.

Issuing a press statement, the company said that Rayamajhi has joined CDC from the Department for International Development (DFID), Nepal, where he was a private sector development advisor for four years and led projects in the financial and SME sectors. Prior to his role at DFID, Rayamajhi provided advisory support to the Investment Board of Nepal in promoting foreign investment and executing large-scale infrastructure projects in waste management, hydropower and cement sectors. He started his career at Standard Chartered Bank and has an MBA qualification from Singapore Management University.

According to the statement, Rayamajhi will be based at CDC’s representative office in Kathmandu, where he will work closely with CDC teams across Asia.  According to teh statement, with a mandate that includes providing counter-cyclical financing during financial crises, CDC is playing a role in protecting jobs and businesses. The firm’s response to the COVID-19 pandemic has three areas of focus: ‘preserve’, ‘strengthen’ and ‘rebuild’, CDC said.  

 “We welcome Rabi to CDC as our Country Representative in Nepal. His expertise in private sector development and extensive knowledge of the investment environment in Nepal will boost CDC’s priority of providing increased long-term capital support to businesses and bolstering sector growth in the country. Rabi will be instrumental in strengthening our partnership with businesses and broadening our presence in Nepal, as we work to enhance corporate governance, develop environmental and social strategies, promoting skills and job creation that power Nepal’s economy,” the statement quoted Srini Nagarajan, head of Asia at CDC as saying.  

Commenting on his appointment, Rayamajhi said that he is keen to get to work on developing local partnerships that will continue to boost business growth and improve the lives of millions of people.

 “I welcome a stronger presence for CDC in Nepal – this is great news for the country. The UK continues is committed to playing a strong role in working with the Government of Nepal and all development stakeholders to ensure Nepal is ‘open for business’. While the current COVID crisis has adversely affected Nepal’s economy, there are also opportunities for investments to help ensure Nepal’s recovery is resilient to future shocks and promotes green growth.  I hope CDC and others like them will seize these opportunities,” the statement quoted Lisa Honan, acting UK Ambassador and country director for DFID, Nepal as saying.

 

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