FinMin suggests ADB assist in bringing in new technologies along with investment

KATHMANDU: Finance Minister Janardan Sharma has suggested that the Asian Development Bank (ADB) provide assistance to bring in investment as well as new technologies available in the market. Addressing a programme titled 'Annual Country Portfolio Review Meeting' organised by ADB to conduct annual review of various projects being undertaken in Nepal, Finance Minister Sharma said large projects still need loans. He also urged the donor to provide assistance for bringing in technologies that are used in developed countries. "We have to bring in loans as well as technologies," he asserted, "So that it becomes easier to complete our projects." Minister Sharma stressed, "Once we complete the project with the loan, we should be able to repay the loan." The review programme was attended by secretaries and other officials of the ministries undertaking various projects with the financial support of ADB. Finance Minister further suggested that ADB invest in the project keeping in view the characteristics and needs of Nepal. He also said that the relationship between ABD and the government is strong and effective for the transformation of a self-reliant society. Representatives of various ministries and agencies participating in the discussion lamented that there was lack of coordination. However, Minister Sharma said that the lack of coordination was the weakness of staff. He pointed out that the development was hindered due to lack of coordination among staff. "Employees are still confused as to who will build the road. This way, how will the development take place?" he questioned. "For instance, the work of digging roads, constructing sewage and laying electricity pylons can be done through the same tender in coordination, but after construction of road, the sewer management starts digging the road and electricity authority is seen laying electricity pylons. These are unwonted examples we can see happening. ' In the programme, it was informed that Ministry of Physical Infrastructure and Transport, Ministry of Culture, Tourism and Civil Aviation, Ministry of Energy, Water Resources and Irrigation, Ministry of Urban Development, Ministry of Water Supply, Ministry of Federal Affairs and General Administration, Ministry of Education, Science and Technology and Ministry of Agriculture and Livestock Development have undertaken various projects with the investment of Rs 409 billion from ADB. The annual review programme will conclude on coming March 22. READ ALSO:

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