Monday 20th May 2024

AIIB be flexible to provide loan at subsidized interest rate: Minister Khatiwada

Published on : 28 July, 2020 5:26 pm

Minister for Finance Dr Yubaraj Khatiwada has spoken of the need for the Asian Infrastructure Investment Bank (AIIB) to be flexible in providing subsidized loan to the low income countries 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.

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