Thursday, 5th March 2015

ADB directors meet Minister Mahat

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Visiting Executive Directors of the Asian Development Bank (ADB) called on Minister for Finance Ram Sharan Mahat at the Ministry of Finance on Monday.

At the meeting, the group of the ADB Executive Directors stressed on the need of creating investment friendly environment to encourage investment from the government and the private sectors to achieve the goal of the country to become a developing country from under-developed one within 2022.

They also assured that the ADB would continue the support in the days ahead.

The ADB has recently adopted a policy to cut the grant and only provide loan to Nepal concluding that the country's capacity of work performances was increased. The ADB provides support on the basis of work performances.

Minister Mahat urged the visiting delegation to adopt a soft policy considering the political transition in the country, adding that foreign aid is inevitable as it was necessary to increase investment on road, energy, and infrastructure development.

The delegation also called on Finance Secretary, Shanta Raj Subedi and discussed matters relating to mutual support and cooperation.

Finance Secretary Shanta Raj Subedi reported that the overall economic indicators of the country were favorable and expressing his hope that the country would be able to gain economic growth of 5.5 per cent in the current fiscal year. Finance Secretary Subedi also reported regarding the implementation of the various Projects run with ADB assistance.

The visiting delegation is making a field visit to the Melamchi Drinking Water Project, Bhairahawa Airport and other projects run under ADB support.