Finnfund's 10 million euro equity investment boosts the expansion of fiber network in Nepal
Finnfund invests in WorldLink Communications Ltd, the largest internet service provider in Nepal and a pioneering ICT company in the country. Finnfund’s investment will be used to expand the existing fiber network and to build WorldLink’s first Tier 3 data center. Nearly half of the population in Nepal still lacks broadband internet access and there is a notable disparity between urban and rural areas. The world class data center will improve Nepal’s connectivity and boost economic growth.
“Finnfund’s investments in digital infrastructure seek to provide communities with faster, more affordable and reliable internet, and WorldLink has been working towards bridging the digital divide in Nepal by expanding its services to rural areas of Nepal and to remote villages” says Kuutti Kilpeläinen, Senior Investment Manager, Head of Digital Infrastructure and Solutions portfolio at Finnfund. “Being a Finnish impact investor, we of course also value the fact that WorldLink uses Nokia’s advanced technology to enhance its internet services.” The Nokia and WorldLink collaboration aims to improve the overall internet experience for WorldLink’s customers, making it more reliable and faster.
WorldLink’s expansion into the data center sector will benefit not only WorldLink’s customers but also other internet service providers, telecoms and both public and private sector organisations. “Finnfund looks forward to supporting WorldLink in the environmental and social risk management during the data center construction” says Kilpeläinen.
“Finnfund's investment is a significant milestone in our mission to connect every corner of Nepal to fast, reliable, and affordable internet”, says Dileep Agrawal, Chairperson of Worldlink. “By expanding our fiber network and establishing a world-class data center, we aim to bridge the urban-rural digital divide and accelerate digital transformation across the country.”
WorldLink provides employment to over 5,000 people and has 35% broadband market share in Nepal, reaching over 900,000 households. The company currently provides services in 73 of the 77 districts in Nepal.
More information: Kuutti Kilpeläinen, Senior Investment Manager, Head of Digital Infrastructure and Solutions portfolio, Finnfund, kuutti.kilpelainen@finnfund.fi, tel. +358 44 013 1291
Media contact: Valpuri Mäkinen, Communications and Marketing Manager, Finnfund, valpuri.makinen@finnfund.fi, tel. +358 50 384 2105
