"Areas including infrastructure development, investment on people especially education and health, good investment climate to attract foreign direct investment, microeconomic stability, inclusiveness in society, vision, governance, political stability and security should be the focus sectors of the government for economic development. In all these sectors, there are encouraging signs, but Nepal still needs local efforts to better address the investment climate," added he.
Nakao emphasized to promote investment and public private partnership (PPP), he also assured to support in regulatory framework for PPP to attract private sector in hydropower. He lauded the signing of power trade agreement with India that assures of power trading and reduction of poverty to 25 per cent of population of the country.
Nepal is a founding developing member country of ADB, established in 1966. Since ADB began its development assistance in 1969, by funding the improvement of Tribhuvan International Airport and four domestic airports, ADB has provided 167 sovereign loans and grants to Nepal totalling $4.3 billion.
During the meeting with leaders, Nakao said that ADB is planning to extend concessional loans of about $1 billion and around $13 million in technical assistance grant to Nepal over the next three years.