Finance Minister Wagle and AIIB President Jiayi meet in Doha, urge increased infrastructure investment
In a meeting in Doha, Finance Minister Dr. Swarnim Wagle urged AIIB President Zou Jiayi to expand the bank's investment in Nepal, support post-disaster reconstruction, and enhance concessional financial access. President Jiayi expressed condolences for the Bhotekoshi flood damage and committed to supporting resilient reconstruction.
Kathmandu. A meeting was held between Finance Minister and Nepal's Governor for the Asian Infrastructure Investment Bank (AIIB), Dr. Swarnim Wagle, and the bank's President, Zou Jiayi, on the sidelines of the 11th Annual Meeting of the AIIB Board of Governors in Doha.
During the meeting in Qatar's capital, Doha, Finance Minister Wagle urged AIIB President Zou Jiayi to expand the bank's investment in Nepal, support post-disaster reconstruction, and enhance concessional financial access.
During the meeting, AIIB President Zou expressed deep condolences for the human and physical losses Nepal suffered due to the recent devastating floods in the Bhotekoshi River. She committed the bank's utmost support for resilient post-disaster reconstruction.
President Zou stated that the bank would provide grant assistance for project preparation through the Project Preparation Specialized Fund. She also expressed the view that by utilizing grants under the Specialized Fund Window, AIIB's loans to Nepal could be maintained at the most concessional interest rates. She reaffirmed the bank's commitment to further cooperation in the economic development of Nepal, a founding member country.
On the same occasion, Finance Minister Wagle congratulated the new President Zou and expressed gratitude for the bank's continued support to Nepal as a founding member. He urged the swift completion of the study work for the electricity distribution system improvement and expansion project and the expressway, currently underway with AIIB investment. He also expressed sorrow over the damage caused by floods to the Upper Trishuli-1 Hydropower Project, in which the bank has invested.
Finance Minister Wagle requested that, under medium- and long-term assistance, the bank mobilize its own resources as well as those of other donor agencies for the development of green energy, cross-border electricity transmission lines, road infrastructure, and digital infrastructure.
During the discussion, Finance Minister Wagle also extended an invitation to President Zou to visit Nepal within 2026.