Finance Minister Shanker Prasad Koirala has said the Asian Development Bank has
responded positively to his request to continue its grant assistance to Nepal.
Talking to reporters at the Tribhuvan International Airport on Monday, Finance Minister Koirala, who returned home after taking part in the 46th annual meeting of the ADB held in New Delhi, India, said the request was made to resume the grant assistance withheld by the Bank since the past two years.
Nepal still needs grant assistance from the ADB for some more years to come, and hence, the request was made to review it, he added.
Sharing about his meetings with the ADB Chair, Vice-chair and other high-ranking officials, Finance Minister said positive response was also received to the request made to increase investment in infrastructure and hydropower development.
The annual meeting decided to provide 300 million US dollars annually to various projects in Nepal, an increase in compared to the previous annual support of 250 million US dollars every year.
Koirala also said he appealed to the finance ministers of the Asia Pacific region, in sideline meetings during the event, to invest in Nepal.
During his meeting with Indian Finance Minister P Chidambaram, Minister Koirala urged to immediately remove the 6 per cent additional tax levied on Nepali readymade garments and to provide Nepal the facility to use the Bishakhapatnam port. Koirala had left Kathmandu on May 3, leading a five-member delegation to the event