Minister for Finance, and Communication and Information Technology Dr. Yuba Raj Khatiwada and high government officials interacted with Nepal’s development partners through video conferencing reports The Rising Nepal.
During the interaction, multilateral development partners have pledged their support to Nepal in mobilising external resources for the prevention and treatment of the COVID-19 and rehabilitation of lives and businesses affected by the pandemic.
According to Daily, they have expressed their interest in working with the government in tackling the challenges posed by the crisis in a video conference held Friday afternoon.
Vice-President of the World Bank for the South Asia Region Hartwig Schafer, Director of the International Monetary Fund Changyong Rhee, VP of International Finance Corporation Nena Stoiljkovic, VP and Chief Investment Officer of the Asian Infrastructure Investment Bank DJ Pandian and United Nations Resident Coordinator in Nepal Valerie Julliand discussed the issue with the The meeting has agreed to form a facilitation committee to mobilise the external resources in the prevention, treatment and rehabilitation.
FM Dr. Khatiwada said that unlike the previous crises, COVID-19 had posed challenges to both at the humanitarian and economic fronts. He termed it as the largest humanitarian and economic crisis in the 21st century.
“Therefore, there will be greater challenges and severe impacts on life and economy so we need to adopt innovative social and economic measures to overcome this crisis,” he said.
According to him, since traditional cooperation policy, programs and instruments will not be enough, new policy and programs were needed for the countries like Nepal.
Additional resources should be mobilised and cost, conditions and process of the development assistance should be simplified and reviewed, he added.
Dr. Khatiwada also suggested extending the loan repayment duration.
Governor of Nepal Rastra Bank Maha Prasad Adhikari, secretaries duo of the Ministry of Finance Shishir Kumar Dhungana and Ram Sharan Pudasaini, WB Nepal Country Director Faris Hadad-Zervos and ADB Nepal Country Director Mukhtor Khamudkhanov also participated in the discussion.