Kathmandu. With Nepal improving into a least developed country, the grants given by foreign donors are going to decrease. Kathmandu: Prime Minister KP Sharma Oli has said that the benefits that the country enjoys as a developed country would be reduced due to the progress in the developed countries.

“There will be some reduction in the concessions provided to Nepal by the World Trade Organization, special facilities under the United Nations, facilities provided by the World Bank and other bilateral countries and the European Union. “He said.

Similarly, there may be some reduction in the concessions received in nepal’s health and education sectors, he added. According to him, the impact of climate change in Nepal and the adversity of natural disasters can hinder Nepal’s progress. Nepal has been taking international diplomatic initiatives through the Ministry of Foreign Affairs since last year. The government has implemented the easy transfer strategy through the National Planning Commission.

A high-level steering committee headed by Prime Minister Oli, an implementation and coordination committee headed by the vice-chairman of the National Planning Commission, a federal evaluation committee headed by a secretary and a state-level implementation committee headed by the chief minister have been formed to implement six strategies.

He said that the process has been forwarded as some laws have to be repealed, some amendments and some new laws have to be made to make the upgradation sustainable. He believes that the effectiveness of the implementation of international treaties and agreements is increasing.

The government has also created opportunities through bilateral multilateral cooperation to help garner international cooperation, increase investment and borrow. The government is focused on amending the Procurement Act, policies and laws related to construction. Emphasis has been laid on personal and institutional capacity development.