KATHMANDU- 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 for providing long-term financing in the green energy.
Similarly, the Finance Minister also requested for an increase in the British investment in reducing climate change impact in Nepal, the Finance Minister’s Secretariat said. On the occasion, the British Treasury Minister Penn said that Britain has been providing assistance to Nepal in its economic development and 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. 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, 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, Finance Minister asserted that the Government of Nepal will guarantee the security of foreign investment in Nepal and it was 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 improving the investment climate in Nepal.