World Bank urged for enhanced budgetary assistance

World Bank urged for enhanced budgetary assistance
By Republica
Published: January 21, 2023 11:00 AM

KATHMANDU, Jan 21: Deputy Prime Minister and Minister for Finance, Bishnu Prasad Poudel has urged the World Bank (WB) to increase budgetary assistance.

In an official meeting with the delegation also comprising World Bank's Country Director for the Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos on Friday, Finance Minister Poudel urged to enhance budgetary assistance to Nepal.

Minister Poudel expressed the commitment on behalf of the ministry to play an effective role to complete the necessary preparation for the resource-guaranteed plans and programs in a way to assure budgetary assistance from the WB in the current fiscal year.

According to the ministry, the government has expressed its commitment to resolve the problems being faced in the execution of such projects.

"The government is committed to fixing the problems surfaced in the execution of the WB-funded projects. Adequate emphasis has been laid on addressing the weaknesses,” the finance minister told the WB.

Lauding the assistance of the WB in diverse sectors, DPM Poudel shared with the WB delegation that Nepal has put its priorities on the projects including Upper Arun and rural roads.

Poudel expressed his confidence that the persisting relations with the WB would further heighten and collaboration would reach a new height. "Political leadership would support the completion of the projects in a successful manner".

On the occasion, WB's Country Director Faris Hadad-Zervos said he was familiar and impressed with the working style of Finance Minister Poudel and expressed his confidence that the WB-supported projects would receive priority.

He urged DPM and Finance Minister Poudel to facilitate the resolution of the problems surfaced in the projects operated with the assistance of the WB.

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