KATHMANDU, Sept 28: Finance Minister Dr Swarnim Wagle, who is currently in Doha, Qatar, to attend the 11th annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), met with AIIB President Zou Jiayi.
During the meeting held on Sunday in the Qatari capital, Finance Minister Wagle urged the AIIB leadership to expand its investment in Nepal, support post-disaster reconstruction efforts and increase Nepal’s access to concessional financing.
The AIIB president expressed deep sympathy over the loss of lives and property caused by the recent devastating floods in the Bhotekoshi-Trishuli river system and pledged all possible support from the AIIB for Nepal’s post-flood reconstruction efforts.
Nepal in priority for investment: AIIB
She said Nepal would receive grant assistance under the AIIB’s Project Preparation Special Fund to support project preparation. She also said the bank would consider providing loans to Nepal at highly concessional interest rates by utilizing grants from the Special Fund Window for Less Developed Members.
According to the Finance Minister’s Secretariat, the AIIB president also reaffirmed the bank’s commitment to further collaboration with Nepal, a founding member of the AIIB, for its economic development.
On the occasion, Minister Wagle congratulated Jiayi on her election to the post and expressed gratitude for the AIIB’s support to Nepal.
Finance Minister Wagle also called for the swift completion of AIIB-funded projects in Nepal, particularly the Electricity Distribution System Improvement and Expansion Project and the expressway study. He also expressed concern over the damage caused by the recent Bhotekoshi-Trishuli floods to the Upper Trishuli-1 Hydropower Project, in which the AIIB has invested.
Minister Wagle further requested the AIIB to mobilize both its own resources and funding from other development partners to support the development of green energy, cross-border electricity transmission lines, road infrastructure and digital infrastructure as part of Nepal’s medium- and long-term development efforts.
During the meeting, Minister Wagle also invited AIIB President Jiayi to visit Nepal by 2026.
RSS
