Nepal urges ADB to invest in productive, employment creation projects

KATHMANDU: Nepal has urged the Asian Development Bank (ADB) to invest in projects which are productive and capable of creating jobs.

During a meeting held between National Planning Commission (NPC) Vice Chair Dr Min Bahadur Shrestha and ADB Country Director Arnaud Cauchois at Singha Durbar today, the former requested for the same.

On the occasion, the NPC Vice Chair insisted on the need of increasing investment in the productive and employment creation projects in Nepal. He also thanked the regional bank for its support to Nepal’s development endeavors, expressing his hope for the continuity of the ADB assistance in the days to come.

During the meeting, the two discussed about the cooperation between the NPC and the ADB and the ADB-funded projects in Nepal. The ADB country director apprised the NPC Vice Chair that a ‘portfolio review’ of ADB investment in Nepal has improved. As he added, the ADB is ready to invest in new projects launched by the government.

The ADB’s investment in Nepal is equivalent to 3.2 billion dollar. Till the year 2022, the ADB’s investment was in energy, transport, agricultural, drinking water, urban development, service, rural development, health and education sectors and in the natural resources.

It has invested in various projects including Melamchi Drinking Water Project, Gautam Buddha International Airport and Upper Trishuli Hydropower Project.

Last year, the ADB had provided a loan equivalent to 255 million US Dollar to Nepal.

During the portfolio review meeting, the ADB also awarded Urban Water Supply and Sanitation Project, Bagmati River Basin Improvement Project, Rural Enterprise Financing Project and Electricity Transmission and Distribution Efficiency Enhancement Project.