ADB assures grant increment to Nepal

A top Asian Development Bank (ADB) official has assured that the bank is committed to scaling up its grant allocation to Nepal in the coming years to help the country meet its development needs in the post-conflict transition period.

“Such assistance will largely depend on the country’s performance, mainly in areas like macroeconomic stability, governance and portfolio performance,” a press statement issued by the bank on Monday quoted Kunio Senga, Director General of ADB’s South Asia Department, as saying at the end of his 4-day visit to Nepal.

According to the press statement, Senga congratulated Prime Minister Pushpa Kamal Dahal, Finance Minister Dr Baburam Bhattarai, other cabinet members of the new government and the Vice-Chairman of National Planning Commission for their new appointments.

During his meetings with Dahal and other senior government officials, Senga stressed the importance of staying on course with economic reforms to address poverty and other development challenges as well as achieve higher economic growth crucial for sustained peace and stability. He also expressed deep sorrow and sympathy over the loss of lives and property caused by severe flooding of the Koshi River in eastern Nepal.

Senga also introduced ADB’s new Country Director for Nepal, Barry J Hitchcock to the Government, media, and other development partners. Hitchcock assumed office in Nepal from the first week of September.
Source: eKantipur