Finnfund’s 10m euro equity investment in WorldLink to enhance Nepal's connectivity

KATHMANDU: Finnfund, a development financier and impact investor from Finland, has invested in WorldLink Communications, the largest internet service provider in Nepal and a pioneering ICT company. Finnfund’s investment will be used to expand the existing fibre network and build WorldLink’s first Tier 3 data centre. Nearly half of Nepal's population still lacks broadband internet access, with a notable disparity between urban and rural areas. The world-class data centre is expected to improve Nepal’s connectivity and boost economic growth.

At a programme organised in Kathmandu on Thursday, Dileep Agrawal, Managing Director of WorldLink, and Kuutti Kilpeläinen, Senior Investment Manager and head of Digital Infrastructure and Solutions portfolio at Finnfund, signed the investment agreement in the presence of the Finnish Minister for Foreign Trade and Development, Ville Tavio.

“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 and remote villages,” said Kilpeläinen. “As a Finnish impact investor, we also value WorldLink using Nokia’s advanced technology to enhance its internet services.” The collaboration between Nokia and WorldLink aims to improve the overall internet experience for WorldLink’s customers, making it more reliable and faster.

WorldLink’s expansion into the data centre sector will benefit not only its customers but also other internet service providers, telecoms, and both public and private sector organisations. “Finnfund looks forward to supporting WorldLink in environmental and social risk management during the data centre construction,” added Kilpeläinen.

“Finnfund’s investment is a significant milestone in our mission to connect every corner of Nepal to fast, reliable, and affordable internet,” said Dileep Agrawal, Chairperson of WorldLink. “By expanding our fibre network and establishing a world-class data centre, we aim to bridge the urban-rural digital divide and accelerate digital transformation across the country.”

WorldLink provides employment for over 5,000 people and holds a 35% broadband market share in Nepal, reaching over 900,000 households. The company currently provides services in 73 of the 77 districts in Nepal.

WorldLink is the first and only company among Nepal’s internet service providers to attract significant foreign investment. The company has previously secured foreign investment from British International Investment (BII) and Dolma Impact Fund II.