Development partners pledge support to Nepal’s fight against COVID-19

Kathmandu, Apr 10

Multilateral development partners have pledged their support to Nepal in mobilising external resources for the prevention and treatment of the COVID-19 and rehabilitation of lives and businesses affected by the pandemic.

They have expressed their interest in working with the government in tackling the challenges posed by the crisis in a video conference held Friday afternoon.

Vice-President of the World Bank for the South Asia Region Hartwig Schafer, Director of the International Monetary Fund Changyong Rhee, VP of International Finance Corporation Nena Stoiljkovic, VP and Chief Investment Officer of the Asian Infrastructure Investment Bank DJ Pandian and United Nations Resident Coordinator in Nepal Valerie Julliand discussed the issue with the Minister for Finance, and Communication and Information Technology Dr. Yuba Raj Khatiwada and high government officials.

The meeting has agreed to form a facilitation committee to mobilise the external resources in the prevention, treatment and rehabilitation. The development partners have agreed to stay in the committee and pledged their support for the resource mobilisation, said the Ministry of Finance.

The multilateral donors appreciated Nepal’s role against the coronavirus pandemic and said that they would roll out further support if needed.

They also emphasised unified efforts from all the stakeholders to overcome the crisis.

According to the MoF, the meeting has deliberated on the impact of the COVID-19 on Nepal’s economy, health sector and public life, and its further potential impacts, government efforts to prevent and control the transmission of infection and future strategies.

FM Dr. Khatiwada said that unlike the previous crises, COVID-19 had posed challenges to both at the humanitarian and economic fronts. He termed it as the largest humanitarian and economic crisis in the 21^st century.

“Therefore, there will be greater challenges and severe impacts on life and economy so we need to adopt innovative social and economic measures to overcome this crisis,” he said.

Stating that the government was trying its best to coordinate with all concerned stakeholders in and out of the country and mobilise all possible resources to battle against the coronavirus pandemic, Dr. Khattiwada pointed out to the need for international, regional as well as bilateral cooperation in the drive to control the spread of the virus.

According to him, since traditional cooperation policy, programmes and instruments will not be enough, new policy and programmes were needed for the countries like Nepal.

Additional resources should be mobilised and cost, conditions and process of the development assistance should be simplified and reviewed, he added.

Dr. Khatiwada also suggested extending the loan repayment duration.

Governor of Nepal Rastra Bank Maha Prasad Adhikari, secretaries duo of the Ministry of Finance Shishir Kumar Dhungana and Ram Sharan  Pudasaini, WB Nepal Country Director Faris Hadad-Zervos and ADB Nepal Country Director Mukhtor Khamudkhanov also participated in the discussion.

Published in The Rising Nepal daily on 11 April 2020.