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UK Launches new £400m Development Portfolio for Nepal
1 min 8 sec to read
UK Minister of State (Development & Africa) Andrew Mitchell on February 20 launched a new £400m UK-Nepal development portfolio during his two-day Nepal visit. A new development portfolio will mobilize vital private sector funding in development, tackle the climate crisis, and support economic growth in Nepal, the British Embassy in Kathmandu said in a statement.
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During his visit, Mitchell held talks with Prime Minister Pushpa Kamal Dahal, Foreign Minister NP Saud, and Finance Minister Prakash Sharan Mahat. Together they affirmed UK support for Nepal’s Investment Summit in April 2024, and discussed the reforms necessary to mobilize finance and attract investors, the British Embassy said.
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