Strategy focused on private sector led economic growth, job growth for youth
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Deputy Prime Minister and Minister of Finance Bishnu Paudel has released the National Partnership Strategy (2025-2029) of Asian Development Bank (ADB) for Nepal on Tuesday. The National Partnership Strategy approved by ADB's Board of Directors presents ADB's strategic guidance for Nepal for the next five years.
The national strategy focuses on private sector-led economic growth, job growth for youth and environmental sustainability and climate and disaster resilience. Finance Secretary Ghanshyam Upadhyay, ADB National Director for Nepal Arno Koswa and Preeti Arora, Operations Manager for Maldives, Nepal and Sri Lanka on behalf of the World Bank participated in the strategy launch.
For the first time in Nepal, ADB jointly prepared the National Partnership Framework with the World Bank Group. It is claimed that this will prove to be an important milestone in the development plan based on cooperation.
Finance Minister Poudel said that a new chapter has begun in the 6-decade-long partnership with ADB. Keeping in line with the 16th Plan, he said that it will help in inclusive economic growth, climate resilience and quality employment especially for the youth.
National Partnership Strategy reflects ADB's commitment to support Nepal's development goals and sets a comprehensive agenda of inclusive, uplifting green and employment-intensive economic growth, Koswa said.
"We appreciate the leadership of the Ministry of Finance and the close collaboration with the World Bank Group," he said, "ADB is ready to work with all stakeholders to effectively implement the National Partnership Strategy through a combination of policy reform, institutional strengthening and infrastructure development related investment projects and regional development programs." ADB says it includes cross-cutting priorities such as empowerment, which will ensure inclusive and equitable development outcomes.
ADB Chief Economist Ian Hanson and Program Officer Srijana Rajbhandari presented the key strategic priorities and flagship projects of the National Partnership Strategy.
