MoU singed between TDF and UNCDF for cooperation

The Memorandum of Understanding (MoU) was held between the Town Development Fund (TDF) and the United Nations Capital Development Fund (UNCDF) on 10th December 2017 for cooperation to improve the capacity of municipalities in Nepal to access domestic capital for financing municipal infrastructure development and service delivery. The MoU hasbeen signed by Mr. Maniram Singh Mahat, Executive Director of TDF, and Ms. Judith Karl, Executive Secretary of UNCDF, which will be effective from the date of signature until 31 December 2018.

Under this cooperation, TDF seeks assistance from UNCDF to build a pipeline of bankable municipal finance projects in selected pilot municipalities, expand blended financing and build internal capacities to be able to access capital markets for addressing its growing portfolio.

Hence, MoU aims to assist a selected pilot municipalities to develop a pipeline of capital investment proposals and assessment of creditworthiness, so that they can secure increased scale of financing, and alongside assist TDF in carrying out its preparations to secure financing from the capital market to expand the scale of its financing to municipalities.