Finnfund, the Finnish impact fund, has announced a €10 million investment in WorldLink Communications Ltd., the largest internet service provider in Nepal. This financial support is aimed at expanding the company’s fiber optic network and building the country’s first data centerA data center or data processing center (DPC)… of level 3. The initiative aims to close the digital divide between urban and rural areas, where nearly half of the population still lacks access to broadband internet.
The world-class data center will enhance connectivity in Nepal, driving economic growth and attracting more actors from the public and private sectors. “Finnfund’s investments in digital infrastructure aim to provide communities with faster, more affordable, and reliable internet,” said Kuutti Kilpeläinen, investment manager at Finnfund. Kilpeläinen also highlighted WorldLink’s collaboration with Nokia, utilizing their advanced technology to improve internet services.
Digital Transformation and Rural Development
WorldLink, which already holds 35% of the broadband market in Nepal and serves over 900,000 homes across 73 of the country’s 77 districts, expects this investment to be a catalyst for Nepal’s digital transformation. “Finnfund’s investment is a significant milestone in our mission to connect every corner of Nepal with fast, reliable, and affordable internet,” said Dileep Agrawal, president of WorldLink.
The expansion of WorldLink’s fiber optic network and the development of the data center will not only benefit its customers but also other internet service providers, telecommunications companies, and organizations in both the public and private sectors. In addition, Finnfund will work on managing environmental and social risks during the construction of the data center, ensuring that the project meets international standards.
Commitment to Social Impact
The project will also have a positive impact on employment, as WorldLink currently employs over 5,000 people. The company, which operates in remote and rural areas, aims to close the digital divide by implementing advanced technological solutions.
With this investment, Finnfund reinforces its commitment to promoting sustainable development and digital equality in emerging countries. This step is key to ensuring that more Nepalis have access to the internet, fostering digital inclusion and accelerating economic progress in Nepal.