The IBN Transformed into an Institution Capable of Building Strategic Infrastructure Projects, Says Prime Minister Prachanda

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ expressed his vision of developing the Investment Board Nepal (IBN) as a nimble, efficient, and adept organization capable of executing strategic infrastructure projects with the expertise of professionals. The Prime Minister, who also serves as the chairman of the IBN, received the annual report detailing the board’s accomplishments during the year 2079/80.

Under the provisions of the Public-Private Partnership and Investment Act and Regulations, the Chief Executive Officer Sushil Bhatta of the Investment Board submitted the report at the beginning of the financial year. During the event, the Prime Minister provided instructions to the CEO Bhatta, emphasizing the need for policy, legal, and institutional reforms to empower the Investment Board to effectively implement the knowledge and experience of experts.

While acknowledging the board’s success in coordinating, cooperating, and forming partnerships, Prime Minister Prachanda hailed it as an outstanding institution for project construction, particularly in strategic infrastructure. He affirmed the government’s commitment to encouraging private sector investments, including foreign direct investment, in the development of major infrastructure projects in the country.

The Prime Minister also commended the professionalism and performance of the Investment Board, which received positive feedback from international organizations. He praised the board’s scientific and timely project development screening process and highlighted its efforts in making the public-private partnership project bank more efficient and practical. To further enhance support, the Prime Minister suggested collaborating with relevant ministries and state governments.

Presenting the performance report, CEO of the IBN, Sushil Bhatt, outlined the achievements in project management, investment promotion, institutional development, coordination, collaboration, and partnership. The report included result-based indicators for each task, with a summary of key tasks planned for the upcoming financial year.

In conclusion, Prime Minister Prachanda expressed his commitment to providing necessary support and guidance to the Investment Board to ensure continued effective performance in the future, contributing to the growth and development of the nation.