Financial access to Province-1 imperative: NRB

December 9, Kathmandu: A report prepared by Nepal Rastra Bank has pointed out the need for financial access for the economic development of Province-1.

The study report of NRB further showed financial inclusion should be materialized by expanding financial access and awareness. The availability of financial tools is also imperative, the report states.

Among 14 districts in Province-1, only Jhapa, Morang, and Sunsari districts had adequate physical infrastructures, road transport, and other facilities. The facilities concentrated in three districts must be expanded, the report stated, adding balanced development of the Province is necessary.

Bringing in adequate investment is essential irrespective of diverse geography. Moreover, it pointed out the lack of well-managed information and statistics on agriculture, industry, service, and infrastructures at the data-providing bodies and organizations.

Another challenge is the formulation of implementable policy based on credible data and statistics. There are limited capacities and sources of internal investment.