Finance Minister Shanker Prasad Koirala inaugurated the Nepal Resident Mission Office of the Asian Development Bank amidst a function recently. Inaugurating the office, Minister Koirala said that the government is making every effort to uplift the living standards of the 23.8 per cent people below the line of poverty. Finance Minister Koirala said extensive investment was essential for the socio-economic development of Nepal.

Stating that Nepal’s overall economic indicators were satisfactory despite the political instability, he said the government targets to achieve an economic growth rate of 5.5 in the current fiscal year.

Minister Koirala also said ADB support to physical infrastructure development, transport, agriculture, education, drinking water and promoting good governance was crucial.

Vice-chairman of the National Planning Commission Rabindra Kumar Shakya lauded ADB support to bring about socio-economic transformation of Nepal and added that necessary work was being done to bring down the poverty percentage from 23 per cent to 18 per cent.

Finance secretary Shanta Raj Subedi hailed the role played by Asian Development Bank in reducing poverty in Nepal.

ADB vice president Thierry de Longuemar said the ADB will continue its assistance to energy, transport, urban infrastructure and irrigation sectors in Nepal.

Finance secretary Shanta Raj Subedi expressed the confidence that the ADB would continue its assistance to its founder member Nepal. Country director of the ADB Kenichi Yokoyama said the Bank’s priorities are physical infrastructure development and promotion of good governance.