The armed insurgency followed by political wrangling had taken a heavy toll on the country´s economy with the growth stagnating below 5 per cent for almost a decade. [break]
“But once peace returns to Nepal, the economy can easily post growth rate of 7 percent,” Rahman told a news conference in Kathmandu, expressing commitment to help Nepal during transitional phase.
“We have always wished for a lasting peace in Nepal…so that it can present itself with full gusto in addressing long term challenges,” he said. He also informed that ADB and international community were “keenly watching” political developments in the country. But if politicians delays in reaching a deal, Rehman warned “the history may judge Nepal harshly”.
While focus on political agendas were of utmost importance, Rehman said the country should also not keep development works at bay.
“The government´s focus should be on both political agendas as well as development process,” Rahman said, indicating continuation of development works now would lay the groundwork for attaining high growth rate after the completion of peace process.
Meanwhile, the Asian Development Bank (ADB) has appointed Kenichi Yokoyama as the new country director for Nepal. Yokoyama, who will assume office in the third week of March, will replace Barry Hitchcock.
Prior to his appointment as country director, Yokoyama, was serving as the principal water resources specialist at ADB´s South Asia department.
Talking to media, he said he was fascinated by efforts put in by the country in reducing poverty and progress seen in social development process. He also pledged to continue supporting initiatives on inclusive economic growth and social development, capacity building, mitigating climate change risks and strengthening water management system, among others.
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