INSUBCONTINENT EXCLUSIVE:
KATHMANDU, JUNE 18Prime Minister Pushpa Kamal Dahal 'Prachanda' has urged the developed countries to help address
challenges faced by the countries which missed industrial revolutions.PM Dahal made such urge while inaugurating the 21st replenishment
meeting of IDA (IDA21) that kicked off in the federal capital, Kathmandu this morning
The World Bank's International Development Association (IDA) is committed partner in South Asia for over six decades.PM Dahal argued that
assistance to the countries lagging behind industrial development was essential for achieving global goal of peace and prosperity
The development pace could be intensified through the concessional financial aid, according to him.
"The aid can be
mobilized for just access to resource, technology and investment
Inclusive economy can be promoted by ending existing financial gaps," he reminded, adding that initiatives of sustainable development
warrants support.The Head of the Government informed Nepal was in a short supply of financial resources to meet sustainable development
goals (SDGs), Nationally Determined Contributions (NDC) and sustainable infrastructures despite its efforts for inclusive economic
The revenue constraint and trade loss are nagging problems, he reminded
Therefore, financial assistance in grants is required for Nepal to create jobs, spur economic activities and upgrade country status from
LDC."Human capital, health, and quality education need financial resources
Quality enhancement of infrastructure and people's lifestyle are our priorities," PM Dahal said, "Digitalization, investment in productive
sectors, promotion of entrepreneurship, skill development are also in focus."The issue of food security triggered by climate change is
The achievements made so far must not be reversed
"Nepal has been advocating for climate justice along with compensation for loss and damages, for it is bearing the disproportionate effect
of climate change," PM Dahal mentioned, making aware the participants on Nepal's efforts on hardships like earthquake, COVID-19 and global
recession.Moreover, Dahal believed that IDA-21 meeting would be successful to forge a consensus among the donors and recipients on the
documents of policy priorities and results for coming three years, and make high level resolution to address unprecedented challenges.Nepal
and other receiving countries want to see larger impacts of IDA, he reiterated.PM's address features Nepal's potentials along with political
stability like hydropower, tourism, agriculture and diligent youths
IDA is a significant development partner to Nepal
It had provided huge financial resources for the reconstruction after 2015 Earthquake, he shared.Senior Managing Director at World Bank,
Axel van Trotsenburg, viewed the meeting will provide a guideline for mobilization of IDA resources in addition to making plan for the
coming decade.On the occasion, Managing Director at Dwarika Hotel, Sangita Shrestha, urged the development partners and policy makers to
work actively for effective mobilization of financial resources that cater to sustainable development efforts.The event attended by over 200
representatives from 61 countries including high level officials of the World Bank runs through June 21.
This article first appeared/also appeared in https://thehimalayantimes.com
