Kathmandu: Finance Minister Bishnu Prasad Paudel and World Bank Vice President for South Asia, Johannes Zutt, engaged in discussions today at the Ministry of Finance, focusing on the economic landscape and potential collaborations.
According to National News Agency Nepal, the meeting addressed several key areas, including urban and physical infrastructure, investment, tourism, and environmental concerns. Finance Minister Paudel highlighted the significant improvement in Nepal’s economic indicators over the past year, attributing this progress to reforms in policy, structure, and implementation procedures.
Minister Paudel emphasized that the World Bank’s Country Partnership Framework, designed for the next six years, aligns well with Nepal’s requirements and government priorities. He expressed eagerness to work alongside the World Bank in developing plans and programs under this framework.
Additionally, Minister Paudel informed Vice President Zutt about the passage of the Alternative Development Finance Mobilisation Bill in the House of Representatives, which is now under consideration in the National Assembly. He conveyed optimism in receiving World Bank support to achieve the bill’s goals.
In response, Zutt reaffirmed the World Bank’s commitment to support Nepal in attaining high economic growth. He indicated the World Bank’s willingness to collaborate on urban development projects, particularly in Lumbini and the Kathmandu Valley, and on initiatives aimed at reducing environmental pollution and stimulating economic growth. Zutt also stressed the importance of involving the private sector in these efforts.
Zutt commended Nepal’s economic progress and encouraged the country to broaden its investment sectors. He expressed confidence that with the implementation of the Alternative Development Finance Mobilisation laws, Nepal could identify new opportunities for infrastructure investment, thereby attracting private sector involvement and enhancing economic growth.