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Finance Minister in New York seeking support for implementation of federalism

By Our Reporter
Finance Minister Dr. Yuba Raj Khatiwada is now in the US to address the concerns of the international development partners (IDPs), including the World Bank regarding the utilisation of development cooperation in the new federal setup of the country.
“I will present government’s policy and strategy and framework for the federalism implementation for obtaining the maximum support and benefits from the WB,” he had told the media people at the Tribhuvan International Airport before leaving for the Washington DC, United States of America, to participate in a WB meeting last week.
He participated in the bank’s meeting to finalise the multilateral financial institution’s 5-year (2019-2023) Country Partnership Framework. He updated the WB about the government’s development priority and sought support for the implementation of large infrastructure projects.
He was also to hold a separate meetings with the IMF, MCC and the USAID to seek more assistance. He also addressed a gathering of Nepali Diaspora urging them to invest more in Nepal.
He had told journalist in Kathmandu that Nepal’s development roadmap, required cooperation and potential areas for the implementation of the Millennium Development Goals (MDGs) were the primary agenda for the cooperation deliberation.
“We have a huge infrastructure gap in every sector from transportation to energy. We will talk about large roads, energy, irrigation and tourism projects and seek resources for their development,” said Dr Khatiwada.
According to him, Nepal will also seek grant support for fiscal reforms and technical capacity development. But the major stress will be on policy-based loan for development projects.
Similarly, Minister Khatiwada was to participate in a Nepal Day organised by the Embassy of Nepal in Washington DC, and will meet private sector investors.
He had also clarified that Nepal’s denial to graduate to the developing country’s status in 2018 wouldn’t have any impact on the International Development Assistance (IDA). However, if the country was graduated, bilateral donors would have channelled their support to other Least Developed Countries (LDCs) instead of Nepal.
He was accompanied by Chief of the International Economic Cooperation Coordination Division at the Ministry of Finance (MoF) Shri Krishna Nepal and Nepal’s Ambassador to the USA Dr. Arjun Karki.

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