March 26: Prime Minister Pushpa Kamal Dahal has urged the Asian Infrastructure Investment Bank (AIIB) to ensure a policy for providing concessional loan to Nepal.

During a courtesy meeting with a delegation led by RMP Rathnayake, the AIIB director, Prime Minister Dahal said, "Nepal still needs concessions in borrowings. In fact, this market rate pricing is restricting Nepal to access to AIIB financing. As you are policy makers, I urge you all to consider about this."

Stating the government is focused on achieving a high economic growth target simultaneously with good governance, institutional development, social justice and prosperity, the prime minister said, Nepal is expecting for the AIIB's support in financing, technical assistance, knowledge sharing and mobilizing private capital.

The PM said currently there are a few projects under AIIB investment in Nepal in the energy sector and there are ample possibilities for investment in hydropower, tourism, information technology and other infrastructure projects. He urged the AIIB to consider for the investment in these areas.

"Nepal has reached an agreement to export 10,000 megawatts of electricity to India and to Bangladesh as well. This has paved the way for Nepal's energy trade," he said. Recalling about the Nepal's schedule to host the Third Nepal Investment Summit next month (April 28-29), the prime minister expressed his hope that there would a high-level participation from the AIIB in the event, contributing to building an investment-friendly atmosphere for areas of priorities in Nepal.

He also appraised the delegation that Nepal has revised its policies aiming to promote private and foreign investment and urged the AIIB to investment confidently in Nepal. The delegation led by Rathnayake comprised AIIB vice president and other senior officials. On the occasion, Rathnayake said AIIB accords top priority to Nepal as its founding member and the bank is positive for increasing its investment in its development endeavors. -- RSS