ADB urged to invest in productive sectors

By A Staff Reporter,Kathmandu, Apr. 25: The National Planning Commission (NPC) has requested the Asian Development Bank (ADB) to invest in the productive and employment-generating projects.

During a meeting held between Vice Chairman of National Planning Commission Dr. Min Bahadur Shrestha and Country Director of ADB Arnaud Cauchois at Singha Durbar on Monday, Dr. Shrestha said that the government would introduce the programmes to increase production and employment, and urged to increase investment in such projects. He pointed out that there was a need for investment in productive and job-creation projects in Nepal. 

Vice Chairman Dr. Shrestha expressed his gratitude for the ADB's support in the development of Nepal. He expressed confidence that the ADB's support to the government would continue in the coming days as well.

During the meeting, the two discussed the areas of cooperation between the NPC and the ADB and the effective implementation of the ADB-funded projects. ADB Country Director Cauchois said that the ADB was ready to invest in new projects introduced by the new government. 

He said that the 'portfolio' of Nepal's development projects invested by ADB has improved. The ADB has invested about Rs. 421 billion (USD 3.2 billion) in Nepal's physical infrastructure and other areas. By the year 2022, the ADB has made such investments in energy, transportation, agriculture, drinking water, urban infrastructure, service sector, rural development and natural resources, health and education, among others.

 The ADB has invested in dozens projects, including the Melamchi Water Project, Gautam Buddha International Airport and Upper Trishuli Hydropower Project.

Last year alone, the ADB invested USD 255 million in loans to Nepal.