Kathmandu, March 29
Representatives of the World Bank and the Asian Development Bank say they want to invest in major projects in Nepal.
Representatives of the banks, who are taking part in the Nepal Investment Summit in Kathmandu, said they want to invest in long-term projects that can usher in economic development in the country.
Speaking at the Investment Summit on Friday, Vice President of Asian Development Bank, Shixin Chen said that ADB-funded projects such as Melamchi Drinking Water Project and the Gautam Buddha International Airport were near completion and added that ADB was interested to work on other projects. “We are planning to invest in other projects. We have a long term plan under which we want to work in the agricultural sector,” Chen added. He added that as Nepal was moving forward towards economic development, the ADB will help the government by investing in the country.
Similarly, the vice president of World Bank, Hartwig Schafer said that the bank was also ready to invest in Nepal. He added that Nepal government was bringing in new laws and to ensure an investment-friendly environment. Schafer added that World Bank was interested to invest in the country’s private sector. Mentioning that Nepal was an ideal place to invest in the energy sector, Schafer added that the WB was formulating a long-term investment plan to help Nepal boost its energy sector.
