Meeting Between Finance Minister and World Bank Vice President

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel held a courtesy meeting with Johannes Zutt, Vice President of the World Bank for the South Asia Region, at the Ministry of Finance on Tuesday.

During the meeting, discussions were held on the economy, urban infrastructure, investment, tourism, environment, and other key areas.

Finance Minister’s Remarks

Minister Paudel highlighted that Nepal’s economic indicators have shown significant improvement compared to last year. He noted that policy, structural, decision-making, and implementation processes have all improved.

He further stated 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 Nepal’s willingness to work with the World Bank to design projects and programs in line with this framework.

Minister Paudel 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 return-generating projects, for which support from the World Bank would be crucial.

World Bank Vice President’s Remarks

Vice President Zutt assured that the World Bank would continue supporting Nepal to achieve higher economic growth. He mentioned that the Bank would assist in developing urban infrastructure in Lumbini and the Kathmandu Valley, reducing environmental pollution, and fostering overall economic growth.

He welcomed the improvement in Nepal’s economic indicators but stressed the need for further investment. He expressed confidence that with the enactment of the Alternative Development Finance Mobilization law, new investment opportunities in infrastructure would emerge, helping attract private sector participation.

Zutt also suggested Nepal focus on boosting investment and productivity to sustain long-term growth.