FM Wagle urges AIIB to expand investment in Nepal
Summary
Finance Minister Dr. Swarnim Wagle has urged the Asian Infrastructure Investment Bank to expand investment in Nepal, support post-disaster reconstruction and provide more concessional financing. The two also discussed assistance for electricity, roads, digital infrastructure and flood-hit projects during a meeting in Doha.
Key Points
- Finance Minister Dr. Swarnim Wagle urged the AIIB to increase investment in Nepal and support reconstruction after recent floods.
- AIIB President Zou Jiayi expressed sympathy for the flood damage and pledged possible support for resilient reconstruction and project preparation grants.
- Wagle asked the bank to speed up studies for electricity distribution and an expressway project, and raised concern over damage to the Upper Trishuli-1 Hydropower Project.
- He also pushed for AIIB-backed funding for green energy, cross-border transmission lines, road infrastructure and digital infrastructure.
