Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that the tight monetary policy adopted by developed countries had slowed down the pace of economic reform in less developed countries like Nepal.
DPM Paudel made this remark in a meeting with Samantha Power, Administrator of the United States Agency for International Development (USAID) held at the Ministry Wednesday.
He expressed the opinion that climate change, which is a common problem of the world, has added another burden.
Recalling the 75th anniversary of diplomatic relations between the two countries last year, Deputy Prime Minister Paudel has expressed his commitment to make bilateral relations more harmonious in the days to come.
Stating that Nepal received foreign aid for the first time after signing the Point Four Programme in 1951, he said that the G-to-G cooperation expanded through USAID is proof that the development partnership between the two countries has reached a new height so far.
Appreciating the US government’s policy of trusting Nepal’s public finance system and providing aid directly to the government’s funds, DPM Paudel said that after Nepal signed a bilateral aid agreement with USAID in May 2022, a total of US$ 659 million in grant aid would be used through budget system of Nepal in the next five years.
Similarly, Deputy Prime Minister Paudel said that with the promulgation of the new constitution in the year 2072, the fundamental rights of the people are being guaranteed and the government is moving on the path of development with the vision of ‘prosperous Nepal, happy Nepali’.
In addition to aid, he expressed that there is a possibility that Nepal can become a source of clean energy in South Asia in the field of water resources development by using foreign direct investment. On the occasion, USAID Administrator Samantha Power informed that Nepal is the only country to deploy G-to-G assisted aid.
During the meeting, the American Ambassador to Nepal, Mission Director of USAID Nepal and others were present.
Source : TRN,
