For Nepal to reach the long-term development target, 25 trillion are needed.

More efforts are required to acquire the resources required for the nation's growth, according to the government, the private sector, and development partners. Rakha stated that increased investment is required for Nepal's advancement during the conversation on financing for development that was co-hosted by the United Nations, the Federation of Nepal Chamber of Commerce and Industry, and the Ministry of Finance of the Government of Nepal.

The sustainable development target appears to demand an annual budget of roughly 25 billion rupees. Due to the recent slowdown in the economy, it has been apparent that there is a lack of funding for development as a result of the decline in revenue.

Deputy Prime Minister and Finance Minister Bishnu Paudel, who was the program's major guest, brought up the point that, in developing nations, more income goes toward loan principal and interest payments rather than development-related spending. Since Nepal is not unlike other nations, he requested collaboration with the public and commercial sectors as well as development partners in order to acquire resources.

He stated that consensus must be reached at the Summit for the Future, which will take place at the UN next month. He claimed that this conversation will contribute to the consensus on the matter. According to him, the government must set aside a substantial sum of money for climate change adaptation even if Nepal has not contributed much to the phenomenon. However, additional funding must be raised. Additionally, Finance Minister Paudel requested assistance from the development partners in this regard.

Chandra Prasad Dhakal, president of the Federation of Industries and Commerce, said that this program was organized in collaboration with the government and the United Nations to identify financial resources for development at a time when Nepal is being upgraded from a least developed country. 

He said that efforts should be made at all levels to raise investment for development in the context of declining foreign direct investment, decreasing revenue, and foreign subsidies. Stating that the federation is organizing special programs to promote investment at home and abroad, he said that a help room has also been established to facilitate foreign investment. 

According to Hana Singer, the UN Resident Coordinator, Nepal need 23 billion dollars a year to meet its development goals, hence unique measures to raise money would be required. He added that Nepal, which is on the edge of becoming a less developed nation, has to acquire resources from all directions.

In order to achieve financial inclusion and gender equality, he underlined the necessity of increasing the engagement of women in the financial industry. He asserted that expanding financial access in rural areas is vital. According to him, Nepal ought to take part in the investment conference that is scheduled for next year since it is crucial for global development.

 Joint Secretary of the Ministry of Finance and Head of the International Coordination Division Dhaniram Sharma stated that the concepts discussed in this discussion will be combined and utilized to create a plan for obtaining funds for growth in the near future.

The keynote speaker, UNSCAP's Macroeconomic Policy Director, Hamza Ali Mallik, discussed the initiatives being taken globally to gather funds for development as well as the policies that Nepal ought to implement.

In order to boost the public finances of the government, he suggested improving the revenue-related facilities. Additionally, additional research needs to be done to reduce the detrimental effects of pine facilities before Nepal is upgraded from a least developed nation. 

 

The president of the Nepal Chamber of Commerce, Kamlesh Agarwal, stated that more resources and better revenue sector improvements should be made by the government. According to Virendra Pandey, vice president of the Nepal Industry Confederation, infrastructure spending had to be increased.

Sobha Gyawali, President of the Federation of Women Entrepreneurs, highlighted inclusivity by lending money to small and medium-sized business owners. Three sessions of the program included topics related to sustainable investment, governmental finance, and private investment. Presentations were given by about fifteen representatives of the public, business, and development partners.