Finance Minister urges AIIB to expand investment and support Nepal’s reconstruction

Doha, Qatar: Finance Minister Dr Swarnim Wagle has urged the Asian Infrastructure Investment Bank, AIIB, to expand its investment in Nepal and provide greater support for post-disaster reconstruction.

During a meeting with AIIB President Zou Jiayi in Doha, Qatar, Finance Minister Wagle also called for increased access to concessional financing for Nepal.

The AIIB President expressed sympathy over the loss of lives and property in the recent Bhotekoshi floods and pledged the bank’s support for Nepal’s reconstruction efforts.

She said Nepal would receive grant assistance for project preparation and that the bank would consider highly concessional loans for less-developed members.

Finance Minister Wagle also called for the speedy completion of AIIB-funded projects, including the Electricity Distribution System Improvement and Expansion Project and the expressway study.

He urged the bank to support Nepal’s green energy, cross-border electricity transmission, road and digital infrastructure projects.