IBN, UNDP sign partnership agreement on SGDs-friendly investment

Kathmandu, March 22 (RSS): The Office of the Investment Board of Nepal (IBN) and United Nations Development Programme (UNDP) on Tuesday signed a Memorandum of Understanding (MoU) on partnership agreement to collaborate on promoting public private partnerships (PPP) and SDGs-friendly investment in Nepal.

Chief Executive Officer (CEO) of IBN Sushil Bhatta and UNDP’s Resident Representative for Nepal Ayshanie Medagangoda-Labé signed the partnership agreement.

Spokesperson at IBN Office Bhagawan Aryal said the MoU includes the issues of institutional capacity promotion, promotion of private investment and PPP. The agreement is expected to fulfill the gaps on fiscal dearth to meet the SDGs in Nepal, it is said.

The MoU also includes the issues of social and environmental impact assessment on project development, project development agreement and project investment agreement, among others.

Likewise, cooperation on development of Standard Operating Procedures (SOPs) to effectively run the services of IBN are also included in the MoU.

On the occasion, CEO Bhatta said the MoU would help promote new ray of hope on investment promotion in Nepal. For this, he stressed the need for exchange of cooperation on capacity building of IBN, risk reduction of the investors and promotion of predictability.

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