Finance Minister Bishnu Prasad Paudel, who chaired the High-Level Regional Consultation on Financing for Development in Asia and the Pacific, held on 17-18 December 2024 at the United Nations Conference Centre in Bangkok, stressed the importance of addressing key challenges faced by developing and least developed countries.

The event, organised by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) is a preparatory platform for the Fourth International High-Level Conference on Financing for Development, scheduled for June 2025 in Seville, Spain.

“Budget planning, efficient resource allocation, and capacity building for effective project implementation remain significant obstacles,” the finance minister said, adding that sustainable expenditure management continues to demand urgent attention.

According to a press release issued by Nepali Embassy in Bangkok, Paudel highlighted the progress made under the Addis Ababa Action Agenda, which aligns financial strategies with the Sustainable Development Goals (SDGs). He also pointed to the need for clear and robust policies on internal revenue mobilisation. “Developing nations must focus on formulating specific revenue strategies and ensuring their effective implementation to improve mobilisation capacity,” Minister Paudel said.

The consultation brought together regional leaders and experts to discuss solutions for financing sustainable development amid growing global challenges.