The Asian Development Bank (ADB) remains fully committed to continue to assist Nepal as the country makes the challenging post-conflict transition, said ADB vice president of Operations, Xiaoyu Zhao here today.
While reaffirming ADB’s continued support to Nepal’s poverty reduction and development efforts, Zhao also urged the government to stay focused on the country's reform and development agenda, while taking the peace and constitution drafting process forward.
Zhao -- at the end of a one-day official visit to the country today -- also held consultations with Prime Minister Madhav Kumar Nepal and Finance Minister Surendra Pandey at their offices.
He also met other senior government officials and development partners, with particular focus on supporting the development of renewable energy. “Given the more than doubling of ADB's assistance to Nepal in the past five years, ADB also seeks the government’s support for strengthening the implementation of development projects with tangible development impacts in terms of poverty reduction and improved standard of living of the Nepali people,” he added.
Zhao joined ADB in August 2008, and heads ADB's Operations Group 1 which includes the South Asia Regional Department and the Central and West Asia Regional Department. Prior to joining ADB, he was the deputy governor of the Export-Import Bank of the People’s Republic of China.He also served as the executive director for the People’s Republic of China at ADB from March 1999 to September 2002.
Based in Manila ADB is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
In 2009, it approved a total of $16.1 billion in financing operations through loans, grants, guarantees, a trade finance facilitation programmes, equity investments, and technical assistance projects. It has also mobilised cofinancing amounting to $3.2 billion.