Jointly organized by the Ministry of Finance, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the United Nations in Nepal, 'Finance for development dialogue: Nepal's road to the summit of the future' concluded calling for more development fund for Nepal.

Addressing the program, Hanaa Sinher-Hamdy, United Nations Resident Coordinator in Nepal, said that she is delighted to participate in F4D Dialogue focusing on domestic reforms, advancing financial inclusion, gender equality, embracing digital transformation & advocating for international cooperation Nepal can meet its SDG commitment & build a prosperous future.

She said that as Nepal prepares for graduation from the LDC, bold and decisive action should be taken to strengthen economic foundations of the country.

"This includes channeling investment into projects that balance economic growth with environmental sustainability," she said.

“By providing tailored financial products and services and institutionalising gender-responsive public finance management, the country can empower women, marginalised communities, and small businesses to engage more fully in the formal economy, thereby supporting sustainable livelihoods and improving access to education and health services, which are crucial for human development.”

Singer-Hamdy said, "We must embrace digital transformation as a driver of economic resilience. The global economy is rapidly shifting from labor-intensive manufacturing to high-tech digital services."

She also said that advocacy should be run for comprehensive reforms to the international financial system to ensure that all countries, including Nepal, have access to affordable and long-term financing. This is particularly crucial as developing countries face higher borrowing costs, limited access to liquidity in times of crisis, and an inequitable share of resources, including climate finance.

Inaugurating the program, Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, said that private sector is the partners in the national development. He said that the government is ready to extend possible cooperation for the facilitation of the private sector and its investment in development projects," he said while addressing a conference on The conference was organised to document Nepal's needs and suggestions to be presented at the upcoming UN Summit of the Future. He also said that credit rating of the country is being conducted to attract foreign investment.

Speaking at the event, Governor of the Nepal Rastra Bank, Maha Prasad Adhikari, said that the low domestic saving has repercussions on development financing. According to him, credit flow to energy, agriculture and SMEs can prove instrumental in promoting inclusive development.

President of the FNCCI, Chandra Prasad Dhakal, said that the government has been putting efforts including the creation and amendment in policies to attract investment and create better environment for business.

"One of the primary drivers of our collaboration is the state of investment in Nepal. Currently, Foreign Direct Investment stands at just 0.2 per cent of our GDP which is a very low figure for a country with our potential," he said.

He said that the growing reliance on loans is not sustainable in the long term, and it poses a significant risk to the country's economic stability.

"Although the graduation is a proof of Nepal's progress, it will also bring about new difficulties. The amount of grants and concessional loans available to us will decrease significantly, putting additional pressure on our finances," he said. "Moreover, our exports will face a significant impact as we lose preferential access to developed and preferred markets."

Dhakal emphasized on attracting investment by creating right conditions. He appreciated the recent legislative changes to create better business environment.

"They are a positive step forward, and they reflect the government’s willingness to work with the private sector to drive economic growth," he said.

Kamlesh Kumar Agrawal, President of the Nepal Chamber of Commerce (NCC), stressed on the need to be more vigilant to the possible future economic setbacks. "Harnessing the potential of renewable energy, infrastructure for trade promotion, tourism and agriculture with better technology and irrigation should be the priority," he said.

Birendra Raj Pandey, Vice-president of the Confederation of Nepalese Industries (CNI), urged the stakeholders to forge collaboration to create sustainable development.