Prime Minister Prachanda Urges AIIB to Facilitate Concessional Loans for Nepal’s Development

In a recent meeting with a delegation from the Asian Infrastructure Investment Bank (AIIB), Prime Minister Pushpa Kamal Dahal ‘Prachanda’, advocated for the establishment of a policy to provide concessional loans to Nepal. The meeting, led by RMP Rathnayake, the Director of AIIB, underscored Nepal’s pressing need for such concessional borrowing facilities, currently unavailable within AIIB’s framework.

Prime Minister Dahal emphasized that the absence of concessional financing options impedes Nepal’s ability to access funding from AIIB effectively. He urged policymakers within AIIB to address this issue to facilitate Nepal’s development initiatives.

Expressing the government’s commitment to fostering high economic growth alongside good governance, institutional development, and social justice, Prime Minister Dahal sought AIIB’s support in various areas including financing, technical assistance, knowledge sharing, and mobilizing private capital.

Prime Minister Dahal also highlighted ongoing AIIB-funded projects in Nepal’s energy sector and underscored potential investment opportunities in sectors such as hydropower, tourism, and information technology.

Moreover, with Nepal set to host the Third Nepal Investment Summit (NIC) on April 28-29, Prime Minister Dahal expressed optimism for AIIB’s active participation, which would contribute significantly to creating an investment-friendly environment aligned with Nepal’s development priorities.

Informing the delegation about Nepal’s revised policies aimed at promoting private and foreign investment, Prime Minister Dahal encouraged AIIB to invest confidently in Nepal’s development projects.

In response, Rathnayake assured that AIIB considers Nepal a priority as one of its founding members and expressed a positive stance towards increasing investment in Nepal’s development endeavors. The delegation, which included AIIB Vice President and other senior officials, reaffirmed AIIB’s commitment to supporting Nepal’s development aspirations.