WASHINGTON DC: Minister for Foreign Affairs Narayan Prakash Saud, who is on an official visit to the US, held separate meetings with US International Development Finance Corporation (DFC) CEO Scott Nathan and United States Agency for International Development (USAID) Administrator Samantha Power, on Tuesday.
On the occasion, they discussed the matters related to the corporation's investment in Nepal. Minister Saud highlighting government strategies for the promotion of private sector investment in Nepal requested CEO Nathan to increase investment flow to Nepal through the Corporation.
Corporation CEO Nathan shared his perspectives on the increment of the corporation's investment for the economic development of Nepal and its potential areas.
The US International DFC as part of the US government now has invested $36.45 billion in 110 countries. Besides, the corporation has been mobilising financial instruments for the development of private sector through capital investment.
Likewise, Minister Saud in a meeting with USAID Administrator Power discussed the matters related to USAID's ongoing programmes aligning the development priorities of Nepal and their effectiveness.
Administrator Power expressed the US government's commitment to support Nepal towards advancing progress in the democratic process and building strong relations.
Reiterating USAID's commitments to support Nepal's efforts for enhancing inclusive economic development, USAID Administrator Power discussed USAID's tasks for enhancing investment potentials through the government and private sectors.
At the meeting held at USAID headquarters in Washington DC, Minister Saud extended gratefulness to the USAID for its longstanding support for the economic and social development of Nepal.
They also discussed the close partnership and relations between Nepal and the US spanning over the past 75 years.
It may be noted that the development agreement amounting to $659 million was signed between the Government of Nepal and USAID on May 5, 2022, for five years.
As stated, the assistance amount will be spent in different areas after Nepal's graduation to the status of medium level developing country from least developed country (LDC) category. Matters related to other potential projects were also discussed.
Others present during the meeting were Nepali Ambassador to the US, Shreedhar Khatry, and US Ambassador to Nepal Dean R Thompson.
The US has been the first-ever and crucial bilateral development partner of Nepal since 1951.
