DPM Paudel calls for sustainable development path for Nepal

Kathmandu, September 21 — Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has stated that a sustainable development path is essential and unavoidable for Nepal. He made these remarks while addressing an event in Kathmandu on Saturday.

He highlighted that Nepal has taken significant steps to address environmental and climate challenges through policies, programs, and initiatives. He emphasized the need to further enhance the effectiveness of the government's actions.

Minister Paudel noted that climate change policies provide a strategic framework for integrating climate resilience into development planning and that efforts are being made to expand access to climate finance through mechanisms like the Green Climate Fund in collaboration with international partners. He stressed the importance of encouraging investments in renewable energy, environmentally friendly infrastructure, and climate-resilient agriculture.

He pointed out that Nepal possesses vast natural resources that could serve as the backbone of a green economy and mentioned that the potential for hydropower remains largely untapped. He stated that investments in renewable energy could not only meet domestic energy needs but also contribute to regional stability and economic growth by exporting clean energy to neighboring countries.

He said, "We must deeply recognize the truth that a sustainable development path has become essential and unavoidable for Nepal. I am fully aware of the challenges we face, but I remain optimistic that solutions are possible. Nepal has taken significant steps to address environmental and climate challenges through policies, programs, and initiatives, and there is a need to make them even more effective."

Deputy Prime Minister Paudel emphasized the necessity of balancing economic progress with environmental protection. He remarked that Nepal is moving forward on its own path of economic development and stated that the development model should prioritize environmental sustainability, durability, and equality.