Monday, December 1, 2008

Finance Minister Bhattarai urges World Bank to be more flexible towards Nepal

Finance Minister Dr Baburam Bhattarai has on Sunday urged the World Bank (WB) to exhibit flexibility while framing its country assistance strategy (CAS) for Nepal.

According to reports, Dr Bhattarai made the appeal to this effect during his talks with the WBʼs Senior Vice President Justin Lin on the sidelines of the UN Conference on Development Financing, which kicked off in Doha, Qatar on November 29

He also asked Lin to scale up budgetary support to Nepal for effectively eradicating poverty, reducing inequality and integrating peace into development.

On the other hand, Lin advised Dr Bhattarai to be more focused on creating an amenable industrial environment in order to expedite growth of the agricultural sector, attract foreign direct investment and spur public private partnership.

Lin also expressed commitment that the WB will continue to reinforce the socio-economic endeavours of Nepal.

Heads of state or government, ministers and representatives from the civil society and the business community are attending the four-day conference which is gravitated towards mobilization of domestic and internal resources for development.

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