KATHMANDU, March 25: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loans to Nepal.
According to the Prime Minister's Secretariat, during a courtesy meeting with a delegation led by RMP Rathnayake, the AIIB director, the PM Dahal said, "Nepal still needs concessions in borrowings as AIIB does not have such a window. In fact, this market rate pricing is restricting Nepal from accessing AIIB financing. As you are one of the policy makers of the bank, I urge you all to consider this.”
PM Dahal said that the government is focused on achieving a high economic growth target simultaneously with good governance, institutional development, social justice and prosperity. He expressed hope for AIIB's support in financing, technical assistance, knowledge-sharing and mobilizing private capital in this process.
Nepal urges AIIB to be flexible on concessional financing to lo...
The PM said currently there are a few projects under AIIB investment in Nepal in the energy sector and there is ample possibility for investment in hydropower, tourism, information technology and other infrastructure projects. He urged the AIIB to consider investing in these areas.
"It has been agreed to export 10,000 megawatts of electricity to India and Bangladesh as well. This has paved a way for Nepal's energy trade," he said.
Recalling Nepal's schedule to host the Third Nepal Investment Summit ( NIS) next month (April 28-29), the Prime Minister expressed his hope that there would be a high-level participation from the AIIB in the event, contributing to building an investment-friendly atmosphere for areas of priorities in Nepal.
He also told the delegation that Nepal has revised its policies aiming to promote private and foreign investment. He urged the AIIB to invest confidently in Nepal.
The delegation led by Rathnayake comprised AIIB vice president and other senior officials.
On the occasion, Rathnayake said AIIB accorded top priority to Nepal as being its founding member and the Bank is positive for increasing its investment in its development endeavors.
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