Investment of ADB in Nepal on suspect

Kathmandu, April 9. A report submitted on the parliamentarian committee of Nepal has indicated that Asian Development Bank has found involved in a case to loot the property of Government of Nepal.

Members of Parliament also have demanded on the minute observation of the investment of Asian Development Bank (ADB) on Nepal. Speaking on the meeting held today, the member of committee of International Relations has urged for such investigation.

Deepak Prakash Bhatt, a member of the committee Sunday focused on the urgency of entire investment ADB because investment of the international investor found suspected on Tara Gaun Regency Hotel. Bhatta says, “We found the bank is involved in the scam in which the property of Government of Nepal has looted. So, it is necessary to make a serious investigation on all type of investment of ADB.

On his comment over the report Dibyamani Rajbhandari, another member of parliament said, “On the name and slogan of liberalization, ADB has been working in country like Nepal but in fact they are not found good for the nation.”

On the report prepared by the sub-committee on the leadership of Parliament Member, Agni Sapkota, didn’t found the source of the investment which ADB has invested on Tara Gaun Regency Hotel. Describing the report he said, “We has heard that there is investment of ADB on the hotel but neither could we track the process of entering the money in Nepal nor any proof of clear investment. So, we came to the conclusion that investigation on the ABD is necessary.

In past, ADB had sold out its share on 61 rupees per share while the primary value of the share was Rs. 100. ADB has invested 7.5 million rupees on the hotel on 1993. But, in the investigation the committee couldn’t found the financial channel of the money entered in Nepal. “ADB hadn’t received any approval even by the Ministry of Finance of Nepal”, report said.