Kathmandu, Nepal, December 9, 2010—
IFC, a member of the World Bank Group, is working with policymakers and private sector players to help meet Nepal’s development agenda through public-private partnerships.
A workshop, held in Nepal today, is part of a series of IFC-led events in South Asia to identify and address concerns and challenges related to public-private partnerships among stakeholders. The workshop is second in the series, following one held earlier this month in Bhutan.
In Nepal, IFC partnered with the Ministry of Finance along with the World Bank and the World Bank Institute. The event brought together specialists and expert speakers from around the world. It was attended by officials of ministries and public sector departments of renewable energy, transportation, civil aviation, and health care and private sector members and other multilateral partners.
“Nepal is working to build support for greater private participation in the country’s development through sustainable PPP models as part of the overall growth framework,” said Surendra Pandey, Nepal’s Minister of Finance.
Improving quality of services, gaining efficiencies, and boosting economic growth through private participation in social and physical infrastructure were part of the discussions. Public-private partnership initiatives are important for building new and modern airports and expressways that will boost tourism and social-infrastructure growth to meet Nepal’s growing health and education needs.
“Longlasting public-private arrangements receive public ownership while generating interest among local private sector players and other development partners with shared goals,” said Laurence Carter, Director for IFC Advisory Services in Public-Private Partnerships.
The workshop highlighted benefits of public-private partnerships such as knowledge sharing, institution building, and building awareness on designing, structuring, and tendering sustainable public-private partnership projects. The workshop also aimed at facilitating sharing of successful case studies and lessons of effective public-private partnerships from across the globe.
The Nepal government is committed to facilitating the transition necessary to boost the country’s economic growth. Public-private partnership activity can make an important contribution to address the country’s immediate infrastructure needs and garnering needed funding for the purpose.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
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