Finance Minister Rameshore Khanal, who is in the United States, met Asian Development Bank (ADB) President Masato Kanda in Washington DC.

Minister Khanal is in the US to attend the annual meetings of the World Bank and the International Monetary Fund.

During the meeting, he praised ADB’s long-term contribution to infrastructure development and stressed the need for continued support for major projects in Nepal. He also highlighted the government’s commitment to creating an investment-friendly environment to strengthen the private sector, the finance ministry said in a statement.

Khanal briefed Kanda on progress in large ADB-backed infrastructure projects, especially in energy, transport, and information technology, and invited him to visit Nepal.

Kanda expressed interest in Nepal’s recent political changes and governance and thanked the minister for the invitation, saying he hopes to visit at an appropriate time.

Khanal also addressed the South-East Asia group of governors at the World Bank and IMF meetings, urging investment in Nepal’s hydropower and IT infrastructure.

On delays in project implementation, he suggested simplifying procedures and standards while emphasising that global financial norms should consider country-specific contexts.

Nepal Rastra Bank Governor Bishwo Nath Paudel also attended the meeting and discussions.