KHATMANDU: The Asian Development Bank (ADB) – a multilateral development agency founded to contribute towards the alleviation of poverty and building prosperity of the region through physical infrastructure development – has entered 50 years of its operations.
The partnership between Nepal and ADB since its establishment in 1967 has consolidated the mutual cooperation in the alleviation of poverty, enhancing vocational skills and technical know-how and addressing natural calamities and emergency situation besides education, health and drinking water.
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The Bank has so far invested billions of rupees to execute small, middle and mega development projects since its establishment 50 years ago in its bid to support Nepal to free from vicious circle of poverty. It is noted that Nepal has worked in around 200 development projects in cooperation with ADB.
Among the ongoing projects in operations with ADB technical support and funding are Melamchi Drinking Water, Hydropower Investment, South Asian Sub-Regional Economic Cooperation, Roads Improvement, School Sector Improvement, Kathmandu Upatyaka Drinking Water Supply Improvement, Electricity Extension and Transmission Capacity Expansion and Engineering Higher Education Expansion.
On the occasion of Golden jubilee for its establishment, the Board of Governors of ADB are discussing development issues under ‘Building Together the Prosperity of Asia’ in participation of over 3000 participants from 67 member countries.
The four-day seminar programme provides a vibrant platform to discuss economic, finance and development issues of current interests to ADB stakeholders. The topical discussion would be on Asia’s opportunities for the next 50 years, resilient cities, public private partnership progress and challenges in Asia and the Pacific, women leadership for inclusive and livable cities, transcending the middle income challenges and technology for development, among others.
A high-level Nepali delegation headed by Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara would apprise the international community of Nepal’s development aspirations, contemporary political development, local level elections and development projects and make efforts for further cooperation.
