August 10: Nepal Infrastructure Bank Limited (NIFRA) has signed a Memorandum of Understanding with Wonders Group for loan agreement to develop and operate the first skywalk tower projects of Nepal at Kamaladi of Kathmandu and Bhedetar of Dhankuta.

Issuing a joint statement on Monday (August 9), the bank and the project developer said that they have reached an understanding to develop tourism infrastructure with innovative concept despite the adverse impacts of Covid-19. The statement further said that NIFRA will be the lone investor for the projects.

The under-construction skywalk tower of Wonders Group at Kamaladi will be 78 meters tall and will have an area allocated for yoga as well as restaurants and other entertainment facilities.

The skywalk tower, which will be one of the tallest infrastructures in the country, will offer the visitors a bird’s eye view of the Kathmandu valley from a glass floor on top of the tower. The developers are expecting to attract a large number of visitors.

Similarly, the skywalk tower in Bhedetar will be built on public private partnership model. The project initiated with the investment of Province 1 government is expected to attract large number of domestic and international tourists to the destination.

The bank has approved maximum loan of Rs 675 million for both the projects, the statement added.

CEO of the bank Ram Krishna Khatiwada and Chairman of the company Prabendra Pokharel signed the agreement on behalf of their respective organisations amid a recent function.