Asian Development Bank, one of the biggest donors to Nepal, today hailed the country for successfully holding the Constituent Assembly elections that would pave way for drafting a new constitution.
"The successful completion of the Constituent Assembly elections has paved the way for drafting of the constitution," Vice President of Philippines-based bank Thierry de Longuemar said while inaugurating the new office premises of the ADB' Nepal Resident Mission in Kathmandu.
"I believe that maintaining stability and implementing reforms to improve the investment climate will help Nepal achieve much stronger growth than it has experienced in recent years," he said.
He assured the bank's "continued support for Nepal in achieving its development target and poverty reduction objectives."
"Nepal will continue to consolidate its efforts to maintain lasting peace and move forward quickly to accelerate inclusive development for the benefit of all Nepalese," he pointed out.
ADB has provided about USD 3.1 billion in concessional loans and grants for investment projects and about USD 175 million in technical assistance grants since 1969, according to the ADB Nepal office.
ADB assistance has focused on building roads, hydropower plants, and helped improve the well-being of the Nepalese people, Longuemar said.
ADB has recently endorsed a new Country Partnership Strategy for Nepal for a period of five years.
ADB has been providing assistance in the areas of energy development, infrastructure building, agriculture development, climate change adaptation, environmental management, good governance, gender and social inclusion and financial management.
