On October 2, the 12th meeting of the Joint Commission took place between the European Union (EU) and Nepal via a video conference.
According to a press release by the European External Action Service (EEAS), The meeting focused on the current COVID-19 pandemic and the social and economic impacts in both the EU and Nepal. The EU prepared in April a €75 million support package for Nepal with the aim to stimulate the economy and labour demand, thereby supporting people’s incomes. Nepal welcomed the EU’s support during the pandemic. The EU and Nepal agreed that the current crisis highlighted the importance of an effective multilateral system and underlined that the World Health Organisation (WHO) is central to our collective efforts to tackle the pandemic. The EU and Nepal agreed on the need to strengthen the global capacity to prevent and respond to future pandemics and on the need for a future vaccine to be a global common good.
Nepal welcomed the EU’s strong support for the G20 Debt Service Suspension Initiative (DDSI) as well as for the extension of the Initiative for another year at the upcoming G20 Finance Ministers and Central Bank Governors/ IMF-World Bank Group Annual Meetings in October.
The EU and Nepal agreed that the swift and full implementation of the DDSI by all official bilateral creditors is a key priority in order to ensure predictability given the continuing financing pressures on the beneficiary countries owing to the pandemic.
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