FNCCI Senior VP Dhakal Urges ADB To Increase Investment In Large Infrastructures

FNCCI Senior VP Dhakal Urges ADB To Increase Investment In Large Infrastructures

Sept. 10, 2022, 6:42 a.m.

Senior Vice President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has asked the Asian Development Bank (ADB) to increase investment in large infrastructure projects promoted by the private sector.

Dhakal, who is also the chairman of the Global IME Bank, expressed this during a meeting with the Vice President of Asian Development Bank Ashok Lavasa in the capital on Friday.

The senior vice president of the FNCCI asked the ADB for investment in a large-scale infrastructure development project promoted by the private sector in collaboration with the Nepalese private sector, according to a press note issued by the Global IME Bank.

"Infrastructure plays an important role in the development of the country. The investment in the field of infrastructure not only helps in the development of the infrastructure but also contributes to the overall development of the country. There are ample opportunities for investment in large-scale infrastructure projects promoted by the private sector in Nepal. Due to the lack of resources, the private sector of Nepal has not been able to invest in large-scale tourism, hydroelectricity, hotels and other infrastructure projects. Asian Development Bank should expand its investment in these areas," said Dhakal.

Dhakal said that Nepal's banking sector is suffering from a liquidity crunch and said that Asian Development Bank's support is needed to resolve it, read the press note.

On that occasion, the vice president of Asian Development Bank Lavas said that Asian Development Bank is positive about this and is ready to invest in potential infrastructure projects in cooperation with the private sector of Nepal.

Ratna Raj Bajracharya, Chief Executive Officer of Global IME Bank and representatives of Asian Development Bank were also present at the meeting.

Source: The Rising Nepal

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