KATHMANDU: Three vice presidents from the World Bank (WB) group said they will be participating in Nepal Investment Summit to be held on March 29-30.

Hartwig Schafer, Vice President for World Bank for the South Asia Region; Keiko Honda, the CEO of Multilateral Investment Guarantee Agency (MIGA); and Hans Peter Lankes, the Vice President of the International Finance Corporation (IFC), are visiting Nepal.

Schafer said that he will be discussing about investment options during the Summit. He is hopeful that the Summit will attract private investment and attract more investment in Nepal, which help to create jobs, to be the engine of growth, help Nepal prosper.

Likewise, Honda said that the Summit will be a significant milestone to achieve government’s vision. She labeled Nepal as a ‘rising star’ of South Asia, with Foreign Direct Investment flows reaching a record high. “This confirms Nepal’s efforts to improve its investment climate,” Honda said on a social platform.

Similarly, Lankes said they were working closely with the Government of Nepal to identify key sectors with strong potential for economic growth. “Some of our recent recommendations focus on important cross-cutting policy reforms, including land, regulatory, and access to finance areas as well as investment in public goods that could stimulate development,” said Lankes.