Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: World Bank Vice President for South Asia Johannes Zutt has concluded his first official visit to Nepal, highlighting job creation and investment-friendly reforms as critical for the country’s long-term growth.
During his five-day stay, Zutt met with Deputy Prime Minister and Finance Minister Bishnu Paudel, Deputy Prime Minister and Minister of Urban Development Prakash Man Singh, and Nepal Rastra Bank Governor Dr. Biswo Poudel.
“It is truly a pleasure to come back to Nepal after 10 years to see the progress made in consolidating peace, improving services, ending load-shedding, and recovering from the 2015 earthquake and the COVID-19 pandemic,” Zutt said in Kathmandu. He noted Nepal’s achievements in agribusiness, tourism, information technology, and other sectors but emphasized the need for deeper structural reforms to sustain growth.
The discussions focused on the World Bank Group’s new Country Partnership Framework (CPF) for Nepal, which aligns with the government’s 16th Five-Year Plan. The CPF prioritizes job creation and disaster resilience as the two most pressing development challenges for the country.
Under the framework, the World Bank Group plans to make about $2.7 billion available between 2025 and 2031. A major focus will be on creating “more and better jobs” by improving the business climate, boosting competitiveness, and attracting both domestic and foreign direct investment (FDI), including in tourism, ICT, and digital transformation.
“With around 500,000 young people entering the workforce each year in Nepal, the urgency to create jobs that lift families out of poverty and drive sustainable development has never been more critical,” Zutt stressed. “We remain focused on working with the government, entrepreneurs, and other stakeholders to support reforms and bring investments that will unlock job-creating growth.”
Zutt’s visit also highlighted Nepal’s infrastructure, financial sector, and digital economy as pivotal areas where reforms can attract greater investment. His discussions with top government officials and development partners underscored the need for policy stability, resilient institutions, and global partnerships to secure Nepal’s economic future.
Zutt took up his position as World Bank Vice President for South Asia on July 1, 2025, returning to Nepal in an official capacity after a decade. He previously served as the World Bank’s Country Director for Nepal from 2013 to 2015.
The conclusion of his visit comes at a critical moment, as Nepal faces mounting pressure to create large-scale employment, strengthen resilience against natural disasters, and establish itself as a competitive investment destination in South Asia.
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