ADB Vice-President Addresses Infrastructure Summit, Reaffirms Support For Nepal’s Private Sector Development

ADB Vice-President Addresses Infrastructure Summit, Reaffirms Support For Nepal’s Private Sector Development

Sept. 12, 2022, 8:42 a.m.

Asian Development Bank (ADB) Vice-President for Private Sector Operations and Public–Private Partnerships Ashok Lavasa was a keynote speaker at the Nepal Infrastructure Summit 2022 and reaffirmed ADB’s commitment to support Nepal’s development agenda through private sector development. ADB Link

“ADB is ready to support the Government of Nepal in attracting private sector investment by developing an enabling environment, mobilizing high-impact capital, introducing new technologies and innovations, and by building internal capacity,” Mr. Lavasa said in remarks at the summit, which was attended by former Prime Minister of Nepal Pushpa Kamal Dahal and representatives of development partners.

During his 5-day visit, Lavasa met Nepal Finance Minister and ADB Governor Janardan Sharma “Prabhakar” and commended the government on progress toward legal and regulatory reforms to attract private and foreign investment. He said ADB seeks to expand its support for Nepal in areas including public–private partnerships, infrastructure development, small and medium-sized enterprises, climate-smart agriculture, and digitalization, to spur environmentally sustainable and inclusive economic growth.

Lavasa also met Nepal Rastra Bank Governor Maha Prasad Adhikari, Managing Director of Nepal Electricity Authority Kulman Ghising, and Investment Board Nepal Chief Executive Officer Sushil Bhatta.

The vice-president also met with Federation of Contractors Association of Nepal President Rabi Singh, Federation of Women Entrepreneurs' Association of Nepal President Neeru Rayamajhi Khatri, Nepal Chamber of Commerce Senior Vice-President Kamlesh Kumar Agrawal, Federation of Nepalese Chamber of Commerce and Industries Vice-President Anjan Shrestha, Confederation of Nepalese Industries Vice-President Birendra Raj Pandey, Independent Power Producers’ Association Vice-President Nepal Ganesh Karki, and other representatives from the private sector to discuss areas for collaboration and ADB support for the private sector.

ADB Country Director for Nepal Arnaud Cauchois joined Mr. Lavasa in these meetings.

ADB’s cumulative assistance to Nepal since 1969 was $7.3 billion as of 31 December 2021.

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