KATHMANDU: Minister for Finance Dr Yuba Raj Khatiwada has underscored the need for inclusive investment in the industrial sector for the country’s development and prosperity.

Addressing a program ‘Mixed Economy and Gender-friendly Investment’ in Kathmandu on Monday, Minister Khatiwada urged banks and financial institutions (BFIs) to consider increasing their investment in small scale and medium enterprises (SMEs).

He said that currently, the country’s big banks are funding big industries while small scale industries are being funded by the cooperatives, and said the BFIs needs to pay attention to loan disbursement to the SMEs in an easy and convenient manner to ensure inclusive growth of the industrial sector.

He also urged for unified efforts among the government, cooperatives and the private sector, which he claimed were the three pillars of the economy.

He added that the government has formulated policies incorporating the spirit of inclusive development.

Minister Khatiwada stated that available resources should be mobilized accordingly for the same adding that the cooperatives and financial sector in the country had encouraging participation of women.

He also encouraged women entrepreneurs to exploit the usage of technologies for being more competitive and relevant.