By A Staff Reporter
Kathmandu, Feb. 6: Governor of the Nepal Rastra Bank (NRB) Maha Prasad Adhikari has said that all stakeholders are needed to put collective efforts to achieve an inclusive and sustainable economic recovery in the face of COVID-19.
Addressing a virtual meeting on 'AFI Leaders' Public-Private Dialogue (PPD) on COVID-19: Lesson and opportunities for recovery and advancing inclusive finance and growth in 2021 and beyond', organised by the Alliance for Financial Inclusion (AFI) on Thursday, he said that individual efforts to minimise the impact of the pandemic on the economy would be insufficient and ineffective.
“Therefore, initiatives from all stakeholders are needed for the inclusive and sustainable economic recovery. That seems possible only through a spirit of collective dedication,” he said.
Mentioning that the negative impact of the crisis might be felt for some time, Adhikari stressed the need for adopting effective and practical course of action to address the challenges that may arise from it.
He was of the view that collective policy and regulatory practice had played an important role in mitigating some of the risks over the past year.
He said, "During this period, we have made some efforts to protect the most vulnerable sections of the society. It needs to be continued more effectively in the days to come. ”
Discussing the COVID-19 pandemic and status of Nepal at the meeting, governor Adhikari said that small and medium enterprises were the most affected while tourism sector received the toughest blow.
The NRB, as the regulatory body, has adopted various policy measures to facilitate them in their efforts in business recovery, he said.
He said that refinancing facility has been provided to the affected businesses through banks and financial institutions and electronic payment transactions were promoted during the period.
Adhikari stressed need for adopting policy measures to support the economic and social upliftment of women, poor, unskilled workers, micro and small entrepreneurs.