Kathmandu, Sept. 30
Finance Minister Dr. Swarnim Wagle has said
that his participation at the annual meeting of the Asian Infrastructure Bank
(AIIB) was fruitful in terms of expanding the bank’s investment in Nepal’s key
infrastructure development.
"It was also instrumental in promoting
technology transfer and strengthening cooperation among member countries,"
he said on Wednesday, after returning to Nepal from the meeting in Doha of
Qatar. He had departed for Doha on September 26.
The annual meeting has elected Dr. Wagle,
who was the Governor of the AIIB Board of Governors, as Vice-Chair for 2026–27.
Nepal was elected to the vice-chairmanship from among the bank’s regional
member countries.
During the meeting’s Governors’ Business
Roundtable, FM Dr. Wagle said that infrastructure-led capital formation was a
major source of economic growth for less-developed countries. He stressed the
need to invest in key means of production, including roads, electricity,
communications and information technology, informed the Finance Minister's
Secretariat in a statement.
He also highlighted the need to explore
ways to make the bank’s financing more concessional, in line with the needs of
countries such as Nepal, and to ensure the availability of finance in ways that
could attract both domestic and foreign private capital.
During the meeting, FM Dr. Wagle held
bilateral discussions with the AIIB president and the finance ministers of
member countries including Qatar, India, Bangladesh, Armenia and Georgia. "The
discussions covered matters of bilateral interest, economic cooperation,
expanding investment and support for Nepal’s reconstruction following natural
disasters," read the statement.
According to Dr. Wagle, with Nepal being
elected Vice-Chair of the Asian Infrastructure Investment Bank for the first
time, the country is expected to have greater opportunities to expand the
bank’s investment in key infrastructure projects, facilitate technology
transfer and strengthen cooperation.
Earlier, on Tuesday, FM Dr. Wagle held a
meeting with his Qatari counterpart Ali bin Ahmed Al Kuwari.
During the meeting, expressing gratitude
for the support to Nepal following the Bhotekoshi floods, he requested for
continued support in the reconstruction of the structures damaged by the
disaster.
"Besides,
in view of the 50th anniversary of the establishment of diplomatic
relations between Nepal and the State of Qatar commencing from January 2027, he
requested for Qatari investments in three projects namely
Chandragiri-Chitlang-Palung-Chitwan Expressway, Nalsinggad Storage
Hydroelectric Project, and Simbuwa Khola Hydroelectric Project," the
Embassy of Nepal in Doha informed in a statement.
In response, FM
Kuwari said that support from his government would be extended for
rehabilitation and rebuilding. He also said that Qatari government would
facilitate the investment from Qatar to the aforesaid development projects in
Nepal.
Likewise, Dr.
Waglé also held separate meetings with his Georgian and Armenian counterparts
Lasha Khutsishvili and Vahe Hovhannisyan.
According to the
embassy, they discussed avenues for further strengthening bilateral economic
cooperation.
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