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ADB’s New Country Partnership Strategy For Granting Assistance To Nepal
By KTM Metro Reporter
October 30, 2013: following the recently approved Country Partnership Strategy, the Asian Development Bank (ADB) will extend long-term public and private sector finance for capital investment in the areas of transport, energy, water, and other basic public services such as education and skills development; and for the investments that will ensure poverty reduction, as well as inclusive and sustainable growth during the next five years, according to a press release issued by the ADB Tuesday, the news posted on the ‘gorkhapatraonline.com’ says.
“The Government and ADB worked very closely together to define a strategic framework that will allow ADB and others to join up in funding the type of investments that can transform Nepal. The strategic work was done in close consultation with key public agencies and private enterprises, as well as with civil society and other development partners. What we now need is to convert this into projects that ensure value for money and deliver development effectiveness,” the press release quoted Juan Miranda, Director General of ADB’s South Asia Department as saying.
Integrating Nepal with the regional and world economy by expanding its airports and trans-boundary road networks and modernizing customs will also be a focus of ADB’s assistance. The new strategy also significantly focuses on governance, financial management, climate change, reforms for private sector investment and sustainability, institutional development and better project implementation performance but will have the flexibility to respond to emerging needs in the business environment during the political transition. ADB will also help Nepal with irrigation and watershed improvement to boost productivity and commercialization.
