ADB will continue to work In Nepal

– The Asian Development Bank (ADB) will continue to work closely with the Government of Nepal and stakeholders in helping to reduce poverty and promote inclusive growth for all Nepalis, said Mr. Sultan H. Rahman, Director General of ADB’s South Asia department.

ADB’s commitment to assist Nepal is in line with its Country Partnership Strategy 2010 – 2012 for the country, which is anchored in the four strategic pillars of broad-based inclusive growth, social development, governance and capacity building and climate change. We will continue to focus on these core areas in our efforts to help alleviate poverty and uplift the standard of living of Nepalis, the majority of whom still have to make ends meet, said Mr. Rahman, at the end of a three-day official visit to the country.

Mr. Rahman added that ADB has been closely following the developments in Nepal with keen interest and appreciates the challenging and complex political transition the country is undergoing. “Nepal still faces formidable development challenges. It must transform the challenges into opportunities by consolidating the peace process and focusing on effective implementation of projects on the ground,” added Mr. Rahman, who used to head ADB’s Resident Mission in Nepal from 2003-2006.

During his visit, Mr. Rahman met with Prime Minister Madhav Kumar Nepal, Deputy Prime Minister and Minister for Physical Planning and Works, Finance Minister, Governor of the Central Bank of Nepal, and other senior Government officials. He also met with development partners, media and leaders of major political parties.

Mr. Rahman who also met with the Secretary General of SAARC, said that Nepal has much to gain from regional cooperation and integration through promotion of intra-regional trade and investment.

During his meetings with development partners, Mr. Rahman discussed the current situation in Nepal and how best development partners can work together for Nepal’s development. He also highlighted the importance of a closer collaboration among development partners and the Government in strengthening the capacity of public institutions, especially at the local level, in the key areas of public financial management, public procurement and governance risk management.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2009, it approved a total of $16.1 billion in financing operations through loans, grants, guarantees, a trade finance facilitation program, equity investments, and technical assistance projects. ADB also mobilized cofinancing amounting to $3.2 billion.