KATHMANDU: At the 57th annual meeting of the Board of Governors of the Asian Development Bank (ADB) held in Tbilisi, Nepal’s Finance Secretary Madhukumar Marasini made a fervent appeal to the international community for concessional assistance. Marasini stressed the urgency of mobilizing substantial capital to mitigate the economic and developmental setbacks triggered by the Covid-19 pandemic.
Emphasizing Nepal’s dedication to green, resilient, and inclusive development (GRID), Secretary Marasini called upon all development partners, including the ADB, to enhance financial and technical support. He underscored the significance of collective endeavors to foster emerging economic development in South Asia, advocating for interdependence, innovation, and digitization to fortify interregional trade.
Marasini pointed out that Nepal's economy has been grappling with global economic challenges in the post-pandemic era, resulting in sluggish growth and economic stagnation aggravated by revenue deficits and mounting debt obligations. He emphasized the imperative need for collaboration with the private sector to navigate these challenges.
Furthermore, Secretary Marasini highlighted Nepal’s endeavors to cultivate an investment-friendly environment, citing the recent organization of the third investment conference in Kathmandu. He expressed confidence in ADB’s capacity to facilitate investment in critical sectors such as tourism, hydropower, and information technology, leveraging Nepal’s comparative advantages.
Grateful for ADB’s unwavering support, Marasini lauded the institution as a steadfast partner in Nepal’s developmental journey. He commended Nepal’s strides in promoting social inclusion and economic development over the past decade, while stressing the significance of sustained collaboration for continued progress.
