KATHMANDU: Foreign Minister Dr. Arju Rana has acknowledged that international grants are shrinking, and this trend is expected to continue due to geopolitical factors.
Speaking at the 59th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Deuba emphasized that foreign grants are likely to decrease in the future.
“All Nepalis aspire for economic development and progress. These aspirations can only be achieved through the active involvement of the private sector. To elevate Nepal to the status of a developing nation, we must fulfill the Sustainable Development Goals,” she said.
“Our aspirations for rapid economic growth can no longer rely on foreign grants, as these are expected to decrease.”
She noted that when the national budget was 20 billion NPR in 2046 BS, 50% of foreign loans and grants contributed significantly.
By contrast, in the 2081 BS budget of 18 trillion NPR, only 14.4% of the budget was funded through grants.
She further highlighted the crucial role of the Federation of Nepalese Chambers of Commerce and Industry in driving the country’s economic progress.
Emphasizing the importance of private sector participation, she reiterated that the government is committed to increasing capital expenditure to support economic growth.
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