The Asian Development Bank (ADB) is going to provide additional assistance to Nepal to deal with the effects of climate change.

ADB President Masatsugu Asakawa made this commitment during a sideline conversation with Finance Secretary Madhu Kumar Marasini, who arrived in Georgia's capital Tbilisi to participate in the 57th annual meeting of ADB.

Secretary Marasini proposed to increase cooperation to deal with climate change, saying that Nepal is in the list of countries highly affected by climate change despite its insignificant contribution. In response, President Masatsugu said that assistance will be increased to help Nepal deal with the negative effects of climate change.

"I am aware of the problems that Nepal has to due to climate change", quoting Masatsugu's statement, Shreekrishna Nepal, Joint Secretary of the Ministry of Finance and Head of the International Economic Cooperation Coordination Division, who participated in the meeting, said, "ADB is ready for more support."

During the meeting, Secretary Marasini appreciated the contribution of ADB to the development of Nepal and asked for more support to fill the lack of development finance.

On behalf of Finance Minister Barshman Pun, fiancé secretary Maranisi also said that minister Pun firmly hoped that ADB is expected to increase cooperation in Nepal during the term of Chairman Masatsugu.

Secretary Marasinil invited President Masatsugu to visit Nepal on behalf of Finance Minister Varshman Pun.

In response, he informed that ADB has prioritized Nepal and said that he is willing to visit Nepal at an appropriate time.

Similarly, Secretary Marasini also met with Yingming Yang as Vice-President (South, Central, and West Asia). During that time, Joint Secretary Nepal informed that there was an agreement on the development of private sector in Nepal, expansion of private investment, improvement in portfolio implementation, development projects in the pipeline, mainly Dudhkoshi hydropower project with reservoirs, Melamchi drinking water project and budgetary assistance programs to be completed on time.

According to Nepal, it is necessary to improve the implementation capacity to increase the concessional resource mobilization and there is an agreement to cooperate with the poor parties to increase access to climate finance. Vice President Yang said that the ongoing Country Partnership Lovework preparation is being done in collaboration with the World Bank, so it can be a model for other countries as well.

The meeting was attended by Nepal's Foreign Secretary Marasini and Joint Secretary Nepal and Vice President Yang along with Executive Director Supak Chaiyawan, Director General for South Asia Takeo Konishi and other officials participated in the meeting.