Finance Minister Wagle meets AIIB President: Urges expanded investment and reconstruction support in Nepal
Finance Minister Dr. Swarnim Wagle met with Asian Infrastructure Investment Bank (AIIB) President Zou Jiayi in Doha, urging expanded investment in Nepal, post-disaster reconstruction, and concessional financial access. President Jiayi expressed sorrow over the Bhotekoshi flood damage and committed to supporting reconstruction efforts.
Kathmandu. Finance Minister Dr. Swarnim Wagle has urged the Asian Infrastructure Investment Bank (AIIB) to expand its investment in Nepal. The request was made during a meeting between Finance Minister Wagle and the bank's President Zou Jiayi on the sidelines of the 11th Annual Meeting of the AIIB Board of Governors currently underway in Doha, the capital of Qatar.
According to the Finance Minister's Secretariat, during the meeting, Wagle urged the AIIB to further expand its support for post-disaster reconstruction, concessional financial access, and infrastructure development.
During the meeting, President Jiayi expressed sorrow over the human and physical losses in Nepal caused by the recent devastating floods in the Bhotekoshi River and committed to providing the bank's utmost support for reconstruction.
She informed that grant assistance for project preparation would be made available through the AIIB's 'Project Preparation Specialized Fund'. She also stated that by utilizing the grant from that fund, the loan provided to Nepal could be maintained at a maximum concessional interest rate.
During the meeting, Finance Minister Wagle urged the swift completion of the study work for the electricity distribution system improvement and expansion project and the expressway, which are being operated under AIIB investment. He also expressed sorrow over the damage caused by floods to the Upper Trishuli-1 Hydropower Project, which has AIIB investment.
Under medium- and long-term assistance, the Finance Minister urged the mobilization of resources from other donor agencies alongside the AIIB's own resources for green energy, cross-border electricity transmission lines, roads, and digital infrastructure development.
During the meeting, President Jiayi reiterated her commitment to moving forward with further cooperation with Nepal, a founding member country, in the field of economic development. Finance Minister Wagle congratulated the newly appointed President Jiayi and expressed gratitude for the AIIB's continued support to Nepal.
On that occasion, Finance Minister Wagle also extended an invitation to President Jiayi to visit Nepal within 2026.