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. In a meeting held between National Planning Commission (NPC) Vice-Chairman Min Bahadur Shrestha and ADB Country Director Arnaud Cauchois at Singha Durbar on Monday, the former requested for the same. On the occasion, Shrestha stressed the need of increasing investment in the productive sector and employment creation projects in Nepal. He also thanked the regional bank for its support in Nepal's development endeavours, expressing his hope for the continuity of the ADB assistance in the days to come. The two discussed the cooperation between the NPC and the ADB, and ADB-funded projects in Nepal.  The ADB country director apprised the NPC Vice-Chairman of the improvement of a 'portfolio review' of ADB investment in Nepal. The ADB Country Director said 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. Till the year 2022, the ADB's investment was in energy, transport, agriculture, drinking water, urban development, service, rural development, health and education sectors and 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 provided a loan equivalent to $255 million 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. READ ALSO:

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