November 20, 2019 | Investopaper
The Asian Development Bank (ADB) and the Government of Nepal today conducted a tripartite portfolio review meeting of ADB-supported projects in the country. The objective of the review was to improve project implementation and help deliver timely and effective development results on the ground.
“We appreciate the active participation of all stakeholders in the periodic review”, said ADB Country Director for Nepal Mukhtor Khamudkhanov. “ADB values its partnership with the government and the leadership shown by the Ministry of Finance to improve project implementation for successful and timely development outcomes”.
“The Gautam Buddha International Airport under the South Asian Tourism Infrastructure Development Project is a good example of how leadership and improved implementation arrangement can positively impact the progress of a project”, he added.
It may be noted that ADB disbursed $227.3 million in the first ten months of 2019 which is higher compared to the same period last year.
“Challenges remain in ensuring speed and efficiency in project delivery and such review meetings provide an excellent platform to highlight key issues of project implementation and agree on critical actions”, said Finance Secretary (revenue) Shishir Kumar Dhungana.
He further added, “The executing and implementing agencies should be more sensitive for timely completion of the projects so as to get the expected results on the ground”.
ADB has recently approved its latest country partnership strategy for Nepal (2020-2024) which focuses on three priority areas – improved infrastructure for private sector-led growth, improved access to devolved services and environmental sustainability and resilience.