Nepal has officially taken on the role of vice president for the non-regional member category at the Asian Infrastructure Investment Bank for the upcoming year.
A Major Responsibility for Nepal
Nepal was selected for this position during the 11th annual meeting of the bank’s Board of Governors, which is being held in Doha, the capital of Qatar. According to the internal structure of the Asian Infrastructure Investment Bank (AIIB), there is one president and two vice presidents—one from the regional members and one from the non-regional member countries. Along with Nepal, Ireland has also been selected as a vice president representing the non-regional group.
Official Handover of Duty
During the event, Finance Minister Dr. Swarnim Wagle, who is also the governor for the bank from Nepal, formally accepted the responsibility of the vice presidency. While speaking at the Governors Business Roundtable on the second day of the meeting, the Finance Minister explained that infrastructure development is the main foundation for economic growth in less developed nations.
Focus on Investment and Growth
The Minister pointed out that there is a big need to increase investments in important sectors like roads, electricity, communications, and information technology. He emphasized that the AIIB should make its investment terms as flexible as possible to match the needs of developing countries like Nepal. Dr. Wagle also shared his thoughts that the bank should provide financial resources in a way that helps to bring in both domestic and foreign private capital.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
