Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The World Bank has pledged strong support to drive Nepal’s economy towards higher growth in the coming years. The commitment was made during a courtesy meeting between Johannes Zutt, Vice President of the World Bank for South Asia, and Nepal’s Finance Minister Bishnu Poudel on Tuesday in Kathmandu.
During the meeting, Minister Poudel highlighted that Nepal’s economic indicators have shown significant improvement despite global and domestic challenges. He said the government is ready to work in alignment with the World Bank’s six-year Country Partnership Framework (CPF), preparing and implementing projects jointly to boost Nepal’s development and investment climate.
Poudel further briefed that the Alternative Development Financing Mobilization Bill has already been endorsed by the House of Representatives and is currently under discussion in the National Assembly. Once enacted, the bill will enable the government to work together with the private sector to mobilize financing for productive and high-return development projects. He expressed hope that the World Bank would extend necessary support to achieve the goals envisioned in the bill.
In response, Vice President Zutt reiterated the World Bank’s readiness to provide full cooperation for Nepal’s economic transformation. He emphasized that the Bank will focus on projects that directly contribute to growth, including investments in Lumbini’s development, urban infrastructure in the Kathmandu Valley, environmental pollution control, and sustainable economic growth.
Zutt also underlined the importance of private sector participation, stressing that Nepal’s journey toward higher economic growth requires both government and private stakeholders to work together.
This meeting reflects Nepal’s growing collaboration with international financial institutions at a time when the government is seeking to enhance foreign direct investment (FDI), strengthen the private sector, and accelerate long-term growth. The World Bank’s support is expected to play a crucial role in Nepal’s infrastructure, environment, and business ecosystem in the coming years.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
