Finance Minister Dr. Prakash Sharan Mahat and the British Treasury Lords Minister, Baroness Penn, held a meeting at the Treasury Office in London, the United Kingdom, on Monday.
During the meeting, Finance Minister Mahat urged for British investment in the renewable energy sector of Nepal. Recalling that the United Kingdom is a major development partner of Nepal, he requested that the country provide long-term financing for green energy. Similarly, the Finance Minister also requested an increase in British investment in reducing the impact of climate change in Nepal, the Finance Minister’s Secretariat said.
On the occasion, British Treasury Minister Penn said that Britain has been providing assistance to Nepal in its economic development and that this would be continued. She expressed the commitment of the British government to supporting Nepal in the ‘green finance’ sector, saying the British private sector would be encouraged to increase investments in the green energy sector of Nepal.
The Ambassador of Nepal to the UK, Gyan Chandra Acharya, and deputy chief of mission, Roshan Khanal, were also present in the meeting. Finance Minister Mahat has arrived in London in connection with attending a high-level conference on investment in Nepal being organized by the Embassy of Nepal in London. On Monday, he participated in an interaction on sustainable finance alternatives for the development of renewable energy in Nepal.
The interaction was organized by the Embassy of Nepal under the auspices of the Dolma Foundation. On the occasion, the Finance Minister asserted that the Government of Nepal will guarantee the security of foreign investment in Nepal and that it is working to simplify the repatriation process for the profits from foreign investment. He also shared during the interaction that the process of country credit rating has been started in a bid to improve the investment climate in Nepal.