He made the statement during a meeting with Valentino Bagatsing, country representative of the International Finance Corporation (IFC) for Nepal on Friday, said a statement issued by the Ministry of Finance. [break]
“We will reach a conclusion in this regard very soon,” Subedi told Bagatsing. This is the first time Bagatsing had met Subedi after he was appointed as the finance secretary, the statement said.
The IFC, a member of the World Bank Group, and the Asian Development Bank (ADB) has long been demanding that the Nepal government allow them to issue local currency bonds so as to finance development works in the country.
If this is allowed, the IFC and the ADB will be able to issue bonds in the country to mobilize funds to finance development projects.
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