In a meeting with Isabel Guerrero, vice president of the World Bank for South Asia, Koirala said the government has always remained positive about IFC´s interest to issue local currency board in the domestic market. "The government is also working on mitigating the risk in foreign direct investment that arises from the exchange rate fluctuation with US dollar," a statement issued on Tuesday quoted Koirala as saying in the meeting. The IFC, a private sector lending arm of the World Bank, is trying to issue local currency bond in the domestic market in a bid to fill the gap of lack of adequate investment for large scale projects development. "The government is preparing new budget for the coming fiscal year 2013/14 and we will try to incorporate the local currency bond program in it," Koirala said in the meeting.
Related story
Will Idris Elba be first black James Bond?
