Hydropower development a must: WB

KATHMANDU, APR 27: 

World Bank (WB)’s board member Man Ho Au advised the government to focus on hydropower development for the prosperity of the country.

Investment in hydropower will lead the country towards industrial development, he said in a meeting with finance minister Barshaman Pun today. He admired the growth of the Nepali economy in the recent past. 

Pun urged World Bank to invest in Nepal to help alleviate poverty and for the country to step ahead on the path to prosperity. “The major challenge for Nepal’s development efforts is poverty and we are seeking investment and support to overcome the situation,” he said. 

“The government has taken the initiative to encourage investment and the economy is responding positively,” he said, adding that the growth of capital market is a positive indicator of the future. “The government had an aim to lift Nepse to 350 points and we have reached there,” he said. 

Pun said hydropower, tourism, agriculture and infrastructure projects are the basic requirements for development. He hoped the government will be successful in bringing the country out from the political transition towards economic empowerment.

Source: THT