New UK Development Portfolio will help Nepal to tackle the
climate crisis, mobilise international finance for development,
deliver economic transformation, and support governance and
inclusion.
UK development support will see £400 million ($505m) in grants
delivered by 2030.
Impacts will include helping create 13,500 jobs, attracting more
than $1 billion in investment and supporting access to quality
health and education services for two million women and girls.
A new £400m development portfolio will mobilise vital private
sector funding in development, tackle the climate crisis and
support economic growth in Nepal.
The plan will support the creation of 13,500 jobs, help Nepal
attract over $1 billion in investment, and deliver access to
quality health care and education services for two million women
and girls by 2030.
Minister for International Development launched the portfolio
during a two-day visit to Nepal. Its focus on long-term, systemic
transformation emphasises the UK’s commitment to supporting
sustainable and inclusive development globally, as set out in the
recently published White Paper.
Minister for Development and Africa, , said:
The UK and Nepal share close bonds, cemented by our deep history
as Nepal’s oldest partner. We also share an ambition to secure a
more resilient and prosperous future for Nepal.
During my visit I saw how the UK is helping marginalised
communities, building climate resilience and a sustainable
economic transformation for Nepal.
Our new development portfolio will help Nepal on that journey and
to mobilise the funding needed to support growth and development.
This is part of a partnership fit to respond to the challenges
and opportunities during the next hundred years of UK-Nepal
friendship.
In a speech at the Nepalese Ministry of Finance, the Minister set
out how the UK will work with Nepal to help mobilise development
funding, tackle the climate crisis and build business, to support
Nepal’s expected transition from Least Developed Country status.
Improved access to sustainable local infrastructure, a key
element of that transition, is expected to benefit 1.7million
people across the country as a result of the UK’s new Development
Portfolio.
During his visit, Minister Mitchell held talks with Prime
Minister Pushpa Kamal Dahal, Foreign Minister Narayan Prakash
Saud and Finance Minister Dr. Prakash Sharan Mahat. Together they
affirmed UK support for Nepal’s Investment Summit in April 2024,
and discussed the reforms necessary to mobilise finance and
attract investors.
As part of the new portfolio, Minister Mitchell welcomed the
recent agreement by Nepal’s Cabinet on new programmes that will
support green and inclusive growth, attract foreign direct
investment, and promote more inclusive business.
While in Nepal, Minister Mitchell visited the Upper-Trishuli-1
Hydropower project to see the impact of nearly $22m of British
International Investment (BII) funding. This investment will
provide clean and reliable energy to millions of people, while
boosting economic growth by creating jobs. Supporting
Multilateral Development Banks and Development Finance
Institutions to adopt new business models and mobilise more
investment remains a key priority for the Government.
He also saw how UK investment is supporting job creation and
entrepreneurship at Upaya, Nepal’s first tech-enabled
transportation logistics provider, and with the Youth Innovation
Lab who are harnessing digital technology to build Nepal’s
disaster resilience.
Minister Mitchell saw first-hand the threats of climate change in
the Hindu Kush Himalaya, and how the UK is helping Nepal manage
climate risks. This includes through the £274 million Climate
Action for a Resilient Asia (CARA) programme, supporting the
Integrated Centre for International Mountain Development (ICIMOD)
to promote a more climate resilient and inclusive Hindu Kush
Himalaya.
At the One-Stop Crisis Management Centre at Lumbini Province
Hospital, the Minister saw how UK funding is improving support to
survivors of gender-based violence. He also discussed how the UK
is supporting female entrepreneurs, thought leaders and activists
to address social exclusion of women and marginalised groups.
