ADB And The World Bank Representatives Call On Finance Minister Dr. Mahat

ADB And The World Bank Representatives Call On Finance Minister Dr. Mahat

April 5, 2023, 5:26 p.m.

Representatives of Nepal's two major development partners: Asian Development Bank (ADB) and the World Bank (WB) have called on Finance Minister Dr Prakash Sharan Mahat and discussed relevant affairs.

The WB delegation met with the Minister on Tuesday and the ADB team this morning. During the meetings, the development partners urged the Minister to take initiatives for the effective implementation of various projects and programmes funded in Nepal by them.

Following a discussion with ADB country director for Nepal Arnaud Cauchois' team this morning, the Minister said Nepal's development partners are excited to further invest in Nepal and their concern was that their funds could not be spent on time.

In addition to this, they are concerned about the delay in the implementation of the projects in absence of timely site clearance, in a bidding process and a lack of expected progress.

New development projects and programmes were also discussed. As the Minister said, the development partners expressed their interest to assist in Nepal's various sectors. The ADB has its concern over the Dudhkoshi Hydropower Project and the Arun Hydropower Project is the concern of the WB. More, they have expressed their interests in the budgetary assistance for road projects here.

During the meeting, the Minister is said to have apprised the delegations that grants and soft loans were the priorities of Nepal, and the responses were positive.

The major development partners have also their concerns over efforts planned by the government to improve nation's overall economic situation, it is said

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