KATHMANDU, MAY 12

The International Conference on Financing for Nepal, 2023 was held here today, aiming to explore investment sources and opportunities for the country's overall economic development.

Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the conference organised by Office of the Investment Board Nepal (IBN) in collaboration with Standard Chartered Bank and the Society of Economic Journalists of Nepal (SEJON).

During the opening session of the conference, the Prime Minister and Chairman of IBN Dahal highlighted that the event would showcase the latest financial tools and measures aimed at bridging the investment gap necessary for economic and social development.

He further said that the government is committed to implementing institutional and procedural reforms to support these efforts.

During his address at the opening session, Finance Minister Prakash Sharan Mahat underscored the need for new financing methods and tools to mobilise resources beyond just investment. He emphasised that such resources should not be limited to simply 'repackaging' existing resources within current structures and arrangements, but should also include the availability of additional resources.

The conference was attended by representatives from various sectors, including policymakers, the private sector, development partners, banks, financial institutions, media, and other stakeholders.

The Chief Executive Officer of IBN Sushil Bhatta expressed his opinion that a mix of resources obtained from various financial sources would enhance the financial potential of projects and investors would also be able to obtain attractive returns.

Similarly, Professor Achyut Wagle emphasised the need to explore and utilise new financing tools for Nepal to achieve its ambitious development goals, as public finance has its own limitations.

Nepal Rastra Bank Governor Maha Prasad Adhikari, in his concluding remarks, expressed his belief that the conference would prove to be valuable in shaping Nepal's finance and monetary policies.

At the conference, several technical sessions were held, including discussions on the macroeconomics of investment, legal and institutional frameworks related to investment implementation, the tools and scope of financing in Nepal, and resource mobilisation and prevention of disruptions.

A version of this article appears in the print on May 13, 2023, of The Himalayan Times.