Kathmandu, November 3:

Visiting director general of the Asian Development Bank (ADB), South Asia Department at the end of his visit has concluded that Nepal is being left behind by other South Asian countries and it is being unable to take advantage not only of South Asia’s growth momentum but also of its unique location - between India and China, the two fastest growing economies of the world.

According to a press statement issued by ADB , peace and stability are critical to accelerate economic growth and battle poverty. However, he expressed happiness over the recent developments in Nepal, particularly progress in peace talks and development activities.

During his visit, he met with finance minister and senior government officials. The press statement also stated that without strong portfolio performance, development results cannot be achieved nor can the impact of aid be felt at the grassroots levels.

Senga also expressed support for government’s budget priorities, especially for a larger increase in development spending targeted at rural areas, and stated that ADB would continue to assist Nepal in its hour of need, read the statement.