Government is ready to arrange insurance and regulatory policies to invest in green bonds, blended finance and other concepts: Finance Minister Mahat

Kathmandu: Finance Minister Dr. Prakasharan Mahat has requested to international community, donor agencies, development partners and other bilateral and multilateral agencies to provide support by providing subsidized credit investment for underdeveloped and developing countries like Nepal.

In a session of the annual meeting of the Asian Infrastructure Development Bank (AIB) in Egypt, Finance Minister Mahat pointed out the need for concessional financial assistance to meet the infrastructure development needs of economically backward countries. Similarly, he also says that new sources of financial investment should be found.

Now the world is facing three main challenges. It is necessary to work to balance the world economy, achieve the goal of zero carbon emissions and increase the financial access of low and middle income countries to reduce poverty and improve the standard of living of the citizens,”said Finance Minister Mahat. And I ask for cooperation with multilateral development banks and international donor agencies.

Since concessional loans are important for the development of a country with a weak economy like Nepal, Finance Minister Mahat also proposed to AIB to provide such support. Finance Minister Mahat said that more investment is needed for economic revival, job creation, green infrastructure development, expansion of financial access, technology and capacity development, social security, etc. He said that it is believed to promote equitable and sustainable development.

Finance Minister Mahat also emphasized that new sources of financial investment should be found. According to him, investments can be made through concepts such as public-private partnership (PPP), green bonds, blended finance, etc. He also said that the government is ready to arrange political stability, insurance and regulatory policies for that.

According to him, investment can also be increased in the form of climate finance in projects related to climate change in Nepal.

At the meeting of AIIB, responsible global investment for sustainable development, support for sustainable infrastructure in emerging economies, promotion of investment based on green and innovation, identification of opportunities for climate finance and search for resources will be discussed.