Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has called on the National Planning Commission (NPC) and thematic ministries to develop and implement plans that identify and manage opportunities emerging from Nepal’s graduation from Least Developed Country (LDC) status to a middle-income country in 2026. Speaking at a national workshop on “Graduation from the Category of the Least Developed Country to a Developing Countries’ Group: Challenges and Upcoming Plans,” Paudel emphasized the importance of ensuring sustainable development as the country transitions to its new status.
He stressed the need to align the upcoming 16th Periodic Plan and sectoral policies to support a smooth and lasting graduation. Once Nepal graduates from the LDC category, the country is expected to take on increased responsibilities in areas such as international trade, mobilization of development assistance, implementation of the Sustainable Development Goals (SDGs), enhancement of technical capacity in both public and private sectors, and effective management of disaster and climate change challenges.
According to Paudel, achieving these goals will require close coordination and cooperation among federal, provincial, and local governments, as well as with development partners. He stated that the government has already introduced the Alternative Development Finance Mobilisation Bill to address the financing needs associated with structural challenges and changes in foreign investment and aid flows. Additionally, the government has released the Foreign Assistance Mobilization Policy 2082 BS to make aid mobilization more efficient. Legal reforms have also been introduced to improve the investment climate in collaboration with the private sector.
Paudel urged relevant agencies to work toward sustainable international trade by increasing production and productivity, classifying trade by country, safeguarding physical assets, and implementing trade agreements. He acknowledged the impact of disasters and climate change on Nepal’s economy and population, calling for the development of a green economy, improved resilience, and access to global climate funds. He also underlined the importance of collaboration with the international community and development partners for high investment and technical expertise.
He noted that Nepal can overcome current economic challenges through sustained high economic growth, job creation, quality human capital development, promotion of green economy principles, social inclusion, and investment and trade expansion. To face these challenges effectively, Paudel emphasized stronger collaboration among the government, private sector, NGOs, civil society, and development partners.
NPC Vice-Chairperson Prof. Dr. Shiva Raj Adhikari stated that efforts are underway to advance economic transformation and structural reform in partnership with public and private stakeholders. The two-day workshop will focus on discussions surrounding economic and financial stability, economic transformation, climate change, disaster risk management, and social inclusion as Nepal prepares for its graduation from LDC status.
