WorldLink secures Rs 1.42 billion investment from Finland’s Finnfund

KATHMANDU, NOVEMBER 28: WorldLink Communications, a leading internet service provider in Nepal, has signed an investment agreement worth Rs 1.42 billion with Finland’s state-owned funding company, Finnfund.

The agreement was signed at a ceremony held in Kathmandu on Thursday, in the presence of Finland's Minister for Foreign Trade and Development, Ville Tavio. The agreement was formalized by WorldLink Chairman Dilip Agrawal and Kuutti Kilpeläinen, Senior Investment Manager and Head of the Digital Infrastructure and Solutions Portfolio at Finnfund. The investment from Finnfund will be utilized to expand WorldLink’s existing fibre network.

Following the signing, Kuutti Kilpeläinen highlighted WorldLink’s efforts to expand its services into rural and remote areas of Nepal, aiming to reduce the country’s digital divide. He stated that Finnfund's investment in digital infrastructure seeks to provide communities with faster, more affordable, and reliable internet services.

He further noted that the collaboration between Finnish technology and equipment manufacturer Nokia and WorldLink aims to enhance the overall internet experience for WorldLink customers, making it more reliable, high-speed, and trustworthy.

WorldLink’s expansion into data centers will not only benefit its own customers but also support other internet service providers, telecommunications companies, and both public and private sector organizations. "Finnfund is prepared to assist WorldLink in managing environmental and social risks during the construction of data centers," he added.

Similarly, WorldLink Chairman Dilip Agrawal expressed that Finnfund’s investment marks a significant milestone in the company’s mission to connect every corner of Nepal with a fast, reliable, and affordable internet network. “By expanding our fiber network and establishing world-class data centres, we aim to bridge the digital divide between urban and rural areas and accelerate the country’s digital transformation,” he said.

WorldLink is one of Nepal’s largest and oldest internet service providers, employing over 5,000 individuals. The company holds a 35% share of Nepal’s broadband market and serves more than 900,000 households. Currently, it operates in 73 of Nepal’s 77 districts.

Previously, WorldLink attracted foreign investments through British International Investment (BII) and Dolma Impact Fund (DIF). It was the first internet service provider in Nepal to secure such foreign partnerships. The company has also received accolades such as the Digital Transformation Award and the Corporate Excellence ISP Award from the Asian-Oceanian Computing Industry Organization (ASOCIO).

Finnfund, under the Finnish government, is a development financier and impact investor. It focuses on creating sustainable futures and addressing global development challenges by investing in businesses with significant long-term impact. Finnfund provides risk capital, long-term loans, mezzanine financing, and expertise in investing in developing markets across Africa, Asia, and Latin America.

Finnfund exclusively invests in countries defined as developing by OECD/DAC and prioritizes key sectors for sustainable development, including renewable energy, sustainable forestry, sustainable agriculture, financial institutions, digital infrastructure, and innovative solutions.