Kathmandu: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel held a courtesy meeting with World Bank Vice President for South Asia Johannes Zutt.
During the meeting at the Ministry of Finance, discussions were held on the economy, urban physical infrastructure, investment, tourism, environment, and other issues.
Finance Minister Paudel stated that compared to last year, there has been notable improvement in economic indicators, highlighting that Nepal has made progress in policy, structural, decision-making, and implementation processes.
He noted that the Country Partnership Framework prepared by the World Bank for the next six years aligns with Nepal’s development needs and government priorities, and expressed that the government wishes to work together with the World Bank to formulate projects and programmes accordingly.
Finance Minister Paudel informed that the Alternative Development Finance Mobilization Bill has been passed by the House of Representatives and is under discussion in the National Assembly, adding that once the bill is passed, the government, in collaboration with the private sector, will invest in projects that yield returns. He expressed hope for support from the World Bank to advance in line with the objectives of the bill.
World Bank Vice President for South Asia Zutt said that the World Bank will support Nepal in achieving high economic growth. He mentioned that the World Bank will assist in Lumbini, urban infrastructure in the Kathmandu Valley, reduction of environmental pollution, and economic growth, emphasizing the need to move forward with the involvement of the private sector as well.
Vice President Zutt remarked that the improvement in Nepal’s economic indicators is positive, stressing that it is necessary to further increase investment in Nepal.
Expressing confidence that with the enactment of the law on Alternative Development Finance Mobilization, new areas of investment in infrastructure could be identified, he stated that the World Bank will help attract private sector investment and play a significant role in promoting economic growth. He also suggested focusing on investment and productivity growth.
Comment Here