DB vice-prez urges developing Nepal capital, bond markets

KATHMANDU, NOV 04 -

Asian Develop-ment Bank (ADB) Vice President for Finance and Administration Thierry de Longuemar has expressed ADB’s commitment to continue support for Nepal’s development efforts and stressed the need for developing Nepal’s capital and bond markets to attract and promote private investments.

During his five-day Nepal visit, de Longuemer met senior government officials, including Finance Minister Barsha Man Pun and Nepal Rastra Bank Governor Yuba Raj Khatiwada.

He also discussed ADB operations in the country and emphasised the need for urgently addressing infrastructure deficits, particularly in power, transport, and water, by establishing policy environment, building capacities, and promoting private sector investment.

“Nepal has the potential to achieve stronger economic growth rate, given its natural resource endowments, human capital and strategic geographic location. Achieving stronger growth is also imperative for reducing poverty and establishing lasting peace and stability. This will require substantial increase in investments by both the public and private sectors,” said de Longuemar at the end of his visit.

During his visit, de Longuemer discussed the ongoing capital markets and Infrastructure Capacity Support Project supported by ADB to develop Nepal’s bond market and create an enabling environmentfor public private partnership in infrastructuredevelopment. He also discussed the opportunity for ADB to issue local currency bonds that will help provide long-term financing for private infrastructure investment.

Source: The Kathmandu Post