Finance Minister Barshaman Pun holding a meeting with a high-level delegation from AIIB in Singha Durbar on Monday.
The Asian Infrastructure Investment Bank (AIIB) has said that Nepal is a high priority for its infrastructure development plans.
A visiting high-level delegation from the AIIB emphasized Nepal's importance for its infrastructure development initiatives during a meeting with Finance Minister Barshaman Pun on Monday.
During the meeting Finance Minister Pun urged the AIIB team to augment investment in infrastructure development as well as in other sectors.
"Nepal is a top priority for its infrastructure development plans," said RMP Rathnayake, a member of the Board of Directors of the AIIB.
Appreciating recent policy reforms in Nepal, Rathnayake said the AIIB has put Nepal as its top priority and keep investing in the future depending on the availability of the funds.
During the meeting, Minister Pun urged the AIIB team to make investments in line with the bank's policy to invest in partnership with the private sector and to arrange concessional loans for developing countries like Nepal.
He urged the team to invest in tourism, hydropower, and information technology aside from the infrastructure development sector.
In response to Minister Pun's request, Director Rathnayake indicated that the bank could make investments in partnership with the private sector by selecting multipurpose projects.
Meanwhile, Minister Pun also invited the AIIB to the Third Investment Summit to be held on April 28-29 in Kathmandu.
In response, Rathnayake said that a high-level team will participate in Nepal's Investment Summit 2024 representing the AIIB.
Stating that Nepal reached an agreement to export 10,000 megawatts of electricity to India during Prime Minister Pushpa Kamal Dahal 'Prachanad's recent India visit, Minister Pun said there is no market problem for the electricity generated in Nepal.
Similarly, Nepal is also going to export 40 megawatts of electricity to Bangladesh as per the agreement reached between the two countries recently.
Meanwhile, Pun urged the AIIB to expand investments in Nepal to achieve the Millennium Development Goals in 2026.
The AIIB has an investment of 40 million US dollars in the under-construction Upper Trishuli-1 hydropower project of 216 megawatts.
Similarly, the AIIB has also invested in some under-construction power transmission lines in Lumbini and Karnali provinces.
