"Private sector development is key to long-term growth and poverty reduction in Nepal," IFC Vice President and Treasurer Jingdong Hua said on Thursday, according to a press release issued by IFC Nepal office.[break]
Hua, who is in Nepal for the first time, also called on Finance Minister Shanker Prasad Koirala and other government representatives to discuss IFC´s support to the development of domestic capital markets.
“As Nepal continues on its path of stability and growth, IFC is committed to supporting private sector development and create opportunity,” Hua said. “An important element of this agenda is to develop domestic capital markets."
According to the release, IFC supports local capital markets by issuing local currency bonds, often paving the way for other issuers. "IFC also provides local currency finance to meet the needs of the private sector," reads the release.
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