DPM Paudel meets World Bank VP
During the meeting, discussions focused on Nepal’s overall economy, urban and physical infrastructure, investment, tourism, and environmental issues, according to the Finance Ministry.
KATHMANDU: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel met with Johannes Zutt, Vice President for the South Asia region at the World Bank, in a courtesy meeting held today at the Ministry of Finance.
During the meeting, discussions focused on Nepal’s overall economy, urban and physical infrastructure, investment, tourism, and environmental issues, according to the Finance Ministry.
Minister Paudel highlighted that economic indicators have shown significant improvement compared to last year, citing reforms in policy, structure, and implementation processes. He noted that the World Bank’s “Country Partnership Framework” for the next six years aligns with Nepal’s development needs and government priorities, and expressed the government’s interest in collaborating with the World Bank to formulate projects and programs under this framework.
Paudel also briefed Vice President Zutt on the Alternative Development Finance Mobilization Bill, which has been passed by the House of Representatives and is under discussion in the National Assembly.
He said that once enacted, the legislation would facilitate investment in return-yielding projects in partnership with the private sector and expressed hope for the World Bank’s support in achieving the bill’s objectives.
Vice President Zutt assured continued World Bank support to help Nepal achieve high economic growth. He emphasized assistance in urban development in Lumbini and the Kathmandu Valley, reduction of environmental pollution, and promotion of economic growth, stressing the importance of involving the private sector.
Zutt also welcomed the positive improvement in Nepal’s economic indicators and underlined the need to increase investment further.
He expressed confidence that the new law on alternative development finance could open up additional investment opportunities in infrastructure, helping attract private sector participation and boosting economic growth.
He further advised focusing on investment and productivity enhancement as key priorities.
