Nepal Minute - out of the ordinary


Ashok Lavasa, the vice-president for Private Sector Operations and Public-Private Partnerships of the Asian Development Bank (ADB), has reaffirmed the bank's commitment to support Nepal’s development agenda through private sector development, says a press release.

Speaking at the Nepal Infrastructure Summit 2022, Lavasa said, “ADB is ready to support the Government of Nepal in attracting private sector investment by developing an enabling environment, mobilising high-impact capital, introducing new technologies and innovations, and building internal capacity."
During his five-day visit, Vice-President Lavasa met Finance Minister and ADB Governor Janardan Sharma and commended the government on progress towards legal and regulatory reforms to attract private and foreign investment.
He said that ADB seeks to expand its support for Nepal in areas including public–private partnerships, infrastructure development, small and medium-sized enterprises, climate-smart agriculture, and digitalisation, to spur environmentally sustainable and inclusive economic growth.
Lavasa also met Nepal Rastra Bank's Governor Maha Prasad Adhikari, Managing Director of Nepal Electricity Authority, Kulman Ghising, and Investment Board Nepal's Chief Executive Officer Sushil Bhatta.
ADB Country Director for Nepal Arnaud Cauchois had joined Lavasa in these meetings.

Issuing a press statement, ADB assured that it is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. 

ADB’s cumulative assistance to Nepal since 1969 was $7.3 billion as of 31 December 2021.

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