Finance Minister Warns of Difficulties in Foreign Aid Mobilization
Summary
Finance Minister Swarnim Wagle says Nepal will face growing difficulty mobilizing foreign aid as grants shrink and multilateral loans become costlier and shorter-term. He said traditional sources of support are drying up and major road projects are now being financed through stricter loans from the World Bank and the Asian Development Bank.
Key Points
- Finance Minister Swarnim Wagle warned that foreign aid mobilization will become much harder in the coming years.
- He said bilateral grants are shrinking and multilateral loans are becoming more expensive, shorter, and less flexible.
- Wagle said Nepal missed earlier opportunities to use foreign assistance for major infrastructure development.
- He noted that major road projects such as Narayanghat-Butwal and Muglin-Pokhara are now funded by loans from the World Bank and the Asian Development Bank.
