The Asian Development Bank (ADB) has released a new Country Partnership Strategy for Nepal. The strategy to be implemented from 2025 to 2029 promotes a green, private sector targeted and climate resilient development model for Nepal's economic transformation.

The main three priorities of the new strategy are the promotion of employment-friendly and green economic transformation, quality human capital development and public services and climate change-resistant structures in the leadership of the private sector.

'When Nepal is about to rise from the list of less developed countries, this strategy will take the country in the direction of more sustainable and inclusive economic growth,' says Arno Kuswa, Country Director of ADB Nepal, 'This model prioritizes productivity growth and job creation through domestic private investment and foreign direct investment. It strengthens infrastructure, skill development, integration with regional and world trade, and the ability to avoid climate and disaster adversity.

According to ADB, this strategy is designed to match the objectives of Nepal's 16th five-year plan to achieve good governance, social justice, and shared prosperity. The bank said that the green, sustainable and inclusive development (GRID) concept promoted by the government is also included in the strategy. The strategy also includes issues such as development of digital technology, good governance, federal capacity building, empowerment of women and marginalized communities.

ADB has said that for the effective implementation of these strategies, it will focus its investments on job creation, strengthening the private sector and promoting resilience. Keeping in view the multifaceted aspects of the country and the current uncertain situation of the world, the bank has made it clear that the assistance programs will be made flexible.