IFC and FNCCI discuss collaboration

KATHMANDU: The International Finance Corporation (IFC) and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have held discussions on matters of Nepal’s economic development, employment and mutual collaboration.

IFC South Asia Region Head Gregory Smith and FNCCI Vice President Hem Raj Dhakal discussed mutual partnership and coordination between the two organisations. The meeting took place at FNCCI Secretariat.

IFC’s Smith said that IFC is ready to collaborate with the FNCCI for Nepal’s economic development. He said the IFC would cooperate in knowledge-related partnerships, capacity building of small and medium enterprises and ensuring meaningful employment avenues for the youth in order to strengthen Nepal’s private sector.

FNCCI Vice President Dhakal said that the FNCCI has worked on small and medium enterprises in collaboration with IFC in the past as well and expressed gratitude for IFC’s support for strengthening Nepal’s private sector.

We have taken the report – State of Nepal’s Private Sector- prepared jointly by the Federation and the International Finance Corporation in 2022 as of special importance. The study has played a guiding role in policy formulation and investment by highlighting the strengths, challenges and possibilities of Nepal’s private sector,” he said.

FNCCI’s Investment and International Affairs Forum President Manoj Poudel said the private sector has made significant contributions in tourism, information technology, agriculture, education and health sectors.

He expressed the belief that the collaboration with IFC would help in capacity building of the private sector. He hoped for technical and institutional collaboration of the IFC in the areas of knowledge exchange, ease of financial access, promotion of green economy, digital transformation and capacity building of small and medium enterprises.