Speaking at the end of his five-day visit to Nepal, Asian Development Bank (ADB) Vice President for Finance and Administration Thierry de Longuemar expressed ADB’s commitment to continue to support Nepal’s development efforts and stressed the need to develop Nepal’s capital and bond markets to attract and promote private investments.
During his visit to Nepal, he met with Minister of Finance Barsha Man Pun, Governor of Nepal Rastra Bank Dr. Yuba Raj Khatiwada, Chief Secretary Lila Mani Poudel, Secretary Ministry of Finance Shanta Raj Subedi and other senior government officials. He also discussed ADB operations in the country and emphasized the need to urgently address infrastructure deficits, particularly of power, transport, and water, by establishing enabling policy environment, building capacities, and promoting private sector investment.
“Nepal has the potential to achieve stronger economic growth rate, given its natural resource endowments, human capital and strategic geographic location. Achieving stronger growth is also imperative for reducing poverty and establishing lasting peace and stability. This will require substantial increase in investments by both the public and private sectors,” said de Longuemar.
VP de Longuemar also visited ADB-assisted Kali Gandaki ‘A’ Hydroelectric Plant and observed its latest operation of hydropower generation and mitigation of social and environmental impacts and discussed the prospect for further hydropower development in the country.