Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel held a courtesy meeting with Johannes Zutt, the World Bank Vice President for South Asia, at the Ministry of Finance.
During the meeting, discussions were held on the economy, urban physical infrastructure, investment, tourism, environment, and related areas.
Minister Poudel stated that Nepal has achieved significant improvements in economic indicators compared to last year. He highlighted that the government has made progress in policy, structural reforms, decision-making, and implementation processes.
He further said that the Country Partnership Framework prepared by the World Bank for the next six years aligns with Nepal’s development needs and government priorities. He expressed the government’s commitment to work together with the World Bank in formulating projects and programs under the framework.
Minister Poudel also informed that the Alternative Development Finance Mobilization Bill has been passed by the House of Representatives and is under discussion in the National Assembly. Once passed, the government plans to collaborate with the private sector to invest in productive projects, and he sought the World Bank’s support to advance the bill’s objectives.
Vice President Zutt, in response, said the World Bank would support Nepal in achieving higher economic growth. He mentioned that the Bank would assist in areas such as urban infrastructure in Lumbini and the Kathmandu Valley, reducing environmental pollution, and fostering economic growth, while stressing the importance of involving the private sector.
He acknowledged the positive improvements in Nepal’s economic indicators and underlined the need for greater investment. Zutt also expressed confidence that with the passage of the Alternative Development Finance legislation, new opportunities in infrastructure investment would emerge. He assured that the World Bank would help attract private investment and play a crucial role in boosting productivity and economic growth, while also advising Nepal to focus on investment and productivity enhancement.
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