KATHMANDU: The World Bank Vice President for South Asia, Martin Raiser, on Thursday called on Finance Minister Prakash Sharan Mahat for holding discussions on Nepal's challenges to fiscal management as well as the new budget's strategy and resource management.
Issues related to projects' prioritisation, putting assistance in the productive sector and channelling soft loan assistance, among others were discussed during the meeting, Dr Mahat's secretariat said.
During the meeting, Minister Mahat urged the World Bank's Vice President to focus on infrastructure development while extending gratitude for the World Bank's role in Nepal's socioeconomic development.
Minister Mahat mentioned that the migration has added pressure on small towns' infrastructure along with creating opportunities. Road infrastructure is the prerequisite for hydropower development, information technology and the tourism industry's progress, he added.
On the occasion, the Finance Minister thanked the World Bank's representatives for taking a lead role in ensuring financial closure for the Upper Arun Hydropower Project.The World Bank is fully committed to finance the game-changing Upper Arun hydroelectric project. Domestic commitment and donor interest are driving us forward! 2/2 pic.twitter.com/9WLtcjDowb
— Martin Raiser (@MartinRaiser) June 8, 2023
Likewise, the World Bank's Vice President Martin said the two discussed reforms to drive economic growth and stability, putting into action Nepal's GRID agenda, and expediting project implementation. READ ALSO:Great meeting on the financing of Upper Arun hydroelectric project chaired by @mofnepal. It was insightful to hear from the government about the project’s potential for green, resilient, and inclusive development. Let’s power up together! 1/2 pic.twitter.com/K52goJhjmD
— Martin Raiser (@MartinRaiser) June 8, 2023
Published Date: June 9, 2023, 12:00 am
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