Opinion | Raised $4 billion. Time for a new round
Summary
Swarnim Wagle, former architect of Nepal's $4 billion post-earthquake reconstruction funding, now faces the challenge of attracting catalytic capital and foreign direct investment for Nepal's economic growth.
Key Points
- In 2015, Nepal secured over $4 billion in aid for earthquake reconstruction, led by economist Swarnim Wagle.
- Wagle, now Finance Minister, unveiled the largest budget in Nepal's history aiming for 7% growth and investment reforms.
- Despite reforms, Nepal's stock market and private investment fell, with low capital budget utilization in early 2024.
- Wagle must now attract new catalytic and commercial foreign investments to support Nepal’s economic prospects beyond aid.
