Finance Minister Dr. Ram Sharan Mahat has urged the World Bank to invest in energy and infrastructure sectors.
During the meeting with World Bank's Vice President for the South Asia Region Annette Dixon at the Ministry of Finance in Kathmandu on Monday, January 19, 2015 Minister Mahat said the nation needs huge investment in infrastructure in order to boost the nation to developing status from least developed countries (LDC). The government has targeted to take the nation to developing status by 2022.
"Though Nepal has developed a lot in social and economic sectors, we need more effort to improve the per person's income."
The government has also signed an agreement with India regarding the electricity trade between the two nations and transmission connectivity, Mahat acquainted Dixon. "Such agreement would boost the South Asian market and it is safe sector to make investment."
On the occasion, Dixon assured to provide financial assistance to the government for development programmes.
During her three-day official visit, Dixon also held meeting with Prime Minister Sushil Koirala, Energy Minister Radha Kumari Gyawali, Governor of Nepal Rastra Bank Yubaraj Khatiwada and Chief Executive Officer of the Nepal Investment Board, Radhesh Pant, to discuss the government’s development priorities and the bank's programmes of support to Nepal in the areas of investment, infrastructure and inclusion.
This is Dixon’s first official visit to Nepal since her appointment on December 15, 2014 as the bank’s Vice President for South Asia, according to the bank's statement.