Himal Press 
KATHMANDU: Nepal and Finland have signed a framework agreement on the Public Investment Mobilization Project.
Dhaniram Sharma, head of the International Economic Cooperation Coordination Division at the Ministry of ministry, and Finland’s ambassador to Nepal, Rinna Rikka Heikka, signed the agreement in the presence of Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel and visiting Foreign Trade and Development Minister of Finland Ville Tavio, at the finance ministry on Thursday.
According to the finance minister’s secretariat, the project, under Finland’s Public Investment Facility Program, aims at enhancing Nepal’s socio-economic infrastructure and promote sustainable development. It will facilitate concessional financing for key projects, enabling Nepal to invest in areas such as water supply, waste management, energy and electricity, digitalization, meteorology, healthcare technology, disaster management, and rescue operations.
Since Nepal is a Least Developed Country (LDC), Finland will provide 50% of the assistance as grants.
Speaking on the occasion, Deputy Prime Minister Paudel termed the agreement an important significant milestone for Nepal’s socioeconomic and infrastructure development. Similarly, Finnish Minister Tavio expressed confidence that the public investment mobilization initiative would strengthen economic cooperation between the two countries. cooperation and development between Nepal and Finland.
