AIIB needs to be flexible to provide loans at subsidized interest rate, says Minister Khatiwada

Kathmandu, July 28 : Minister for Finance Dr Yubaraj Khatiwada has said that the Asian Infrastructure Investment Bank (AIIB) needs to be flexible in providing subsidized loans to a low income country like Nepal.

Addressing the fifth annual meeting of the AIIB’s Board of Governors, Minister Khatiwada asserted that the AIIB should collaborate with other international financial institutions and to invest sustainably for the physical infrastructures. The AIIB is a multilateral development bank that aims to support the building of infrastructures in the Asia-Pacific region. Inaugurated by the Chinese President Xi Jinping, the Bank began its operations in January 2016 and has currently 103 approved members worldwide.

The Minister viewed that more investment should be attracted to the health sector of Nepal and to revitalize the economy affected by the COVID-19 pandemic. RSS

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