KATHMANDU, Sept 9: Finance Minister Janardan Sharma and Vice President of Asian Development Bank (ADB) Ashok Lavasa held discussions on Thursday evening.

During the meeting, they talked about ways to promote the private sector and issues of concessional loans.

According to Minister Sharma's Public Relations Advisor Manarishi Dhital, Minister Sharma said that Nepal's rural economy's development is likely if the financial assistance was extended by balancing the provinces.

"Being an engine of Nepal's economic growth, the government has given top priority to the development of the private sector," Dhital quoted Minister Sharma as saying. 

Minister Sharma was of the view that the private sector's contribution is vital to meet the target of Nepal's graduation from an LDC to a middle-income country by 2026. 

Likewise, Minister Sharma asked the ADB Vice President to provide more assistance for development of alternative energy, adding that Nepal has suffered due to climate change impacts though it has no contribution to climate change.

In response, ADB Vice-President Lavasa pledged partnership with the Government of Nepal to support Nepali nationals.

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