Tuesday, 16th September 2014

Nepal positive on $ 50b Asian Infrastructure Investment Bank


Privacy Policy

Nepal has given positive response to the Chinese proposal for establishing an Asian Infrastructure Investment Bank for uplifting the lifestyle of the Asian people deprived of socio-economic development for lack of necessary infrastructure.

Government gave the positive response on the establishment of a 50-billion US dollar fund for the bank for investing in infrastructure for regional development proposed by China.

Visiting Chinese Vice Minister for Finance Shi Yaobin discussed on Nepal's contribution in establishing the bank with Finance Minister Dr. Ram Sharan Mahat and Finance Secretary Yubaraj Bhusal today and urged for becoming a founding member.

At the secretary level talks held at the Finance Ministry, Shi said the bank will be important for Nepal facing difficulties in targeted development and for socio economic transformation.

Chinese President Xi Jinping and Prime Minister Li Keqiang had in last October proposed for the bank for linking the people of Asian countries with roads and other infrastructure.

Shi said Pakistan, Sri Lanka, Vietnam, Mongolia and other Asian countries have wished or becoming founder members and China wanted to see Nepal also in that place.

China plans to invest 25 billion US dollars and Nepal will have to invest 55.5 million US dollars in five years for becoming a founding member.