World Bank Vice President for South Asia Martin Raiser (4th from left) called on Finance Minister Dr Prakash Sharan Mahat (5th from left ) in Singha Durbar, Kathmandu on Thursday. (Photo: Martin Raiser's Twitter)
KATHMANDU: The World Bank Vice President for South Asia Martin Raiser on Thursday called on Finance Minister Dr Prakash Sharan Mahat for holding discussions on Nepal’s challenges to fiscal management as well as the new budget’s strategy and resource management.
Issues related to projects’ prioritization, putting assistance in the productive sector, and channeling soft loan assistance, among others were discussed during the meeting, Dr Mahat’s secretariat said.
During the meeting, Dr. Mahat urged the World Bank’s Vice President to focus on infrastructure development while extending gratitude for the World Bank’s role in Nepal’s socioeconomic development.
Saying that the migration has added to pressure on small towns’ infrastructure along with creating opportunities, the Finance Minister said that road infrastructure was the prerequisite for hydropower development, information technology, and the tourism industry’s progress.
On the occasion, the Finance Minister thanked the World Bank’s representatives for taking a lead role in ensuring financial closure for the Upper Arun Hydropower Project.
Likewise, the World Bank’s Vice President Martin said the two discussed reforms to drive economic growth and stability, putting into action Nepal’s GRID agenda, and expediting project implementation.