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ADB asks Nepal to focus on positive aspects of open border
Kathmandu, June 25: Describing India as one of the most `rapidly growing` markets in the world, Asian Development Bank today said Nepal should focus on positive aspects of its open border with India as privileged access to its market could prove beneficial to the Himalayan kingdom.
Kathmandu, June 25: Describing India as one of the most "rapidly growing" markets in the world, Asian Development Bank today said Nepal should focus on positive aspects of its
open border with India as privileged access to its market could prove beneficial to the Himalayan kingdom.
Talking to reporters here, ADB's outgoing country director to Nepal Richard Vokes said the long open border with India presents a real challenge to Nepalese policymakers in all areas of development, but it also represents a greater opportunity.
"While there are clear disadvantages of being a landlocked country, having an open border and privileged access to one of the most rapidly growing markets in the world can prove positive for Nepal," he said. The ADB has proposed a USD 35 million public sector management programme loan to help Nepal in implementing her poverty reduction strategy, he said before departing to ADB's headquarters in Manila.
However, the soft loan needs to get final approval from the ADB's governing board of directors on July 8, Vokes said.
He praised Nepal for taking lead role in developing environment-friendly tourism and making remarkable progress in the field of community forestry in the world. Nepal should also focus on financial sector reform, achieve good governance and eliminate corruption and ADB is ready to provide help to Nepal in this regard, he said.
On the recent cease-fire and initiation of dialogue with the Maoists, he expressed hope that it will culminate in lasting peace and stressed that a firm peace agreement is necessary for sustained economical development.
Bureau Report
"While there are clear disadvantages of being a landlocked country, having an open border and privileged access to one of the most rapidly growing markets in the world can prove positive for Nepal," he said. The ADB has proposed a USD 35 million public sector management programme loan to help Nepal in implementing her poverty reduction strategy, he said before departing to ADB's headquarters in Manila.
However, the soft loan needs to get final approval from the ADB's governing board of directors on July 8, Vokes said.
He praised Nepal for taking lead role in developing environment-friendly tourism and making remarkable progress in the field of community forestry in the world. Nepal should also focus on financial sector reform, achieve good governance and eliminate corruption and ADB is ready to provide help to Nepal in this regard, he said.
On the recent cease-fire and initiation of dialogue with the Maoists, he expressed hope that it will culminate in lasting peace and stressed that a firm peace agreement is necessary for sustained economical development.
Bureau Report