1) Foreign aid is not a very effective means of dealing with the failure of nations around the world today because countries need inclusive economic and political institutions to break out of the cycle of poverty. Foreign aid can typically do little in this respect, and certainly not with the way it is now organized. Recognizing the roots of world inequality and poverty is important precisely so that we do not pin our hopes on false promises. As those roots lie in institutions, foreign aid, within the framework of given institutions in recipient nations will do little to spur sustained growth. In other words giving it to the institutions that are at fault, will not help.

2) Since development of inclusive economic and political institutions is key, using the existing flows of foreign aid at least in part to help such development would be useful. Putting conditions on aid (which is what donors overwhelmingly do in Nepal) is not the answer, as it requires existing rulers to make concessions which they usually don’t agree or just bypass. Instead, we should perhaps structure foreign aid so that its use and administration brings groups and leaders otherwise excluded from power into decision-making process.

How

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Kiran Bhakta Joshi, the founder of Incessant Rain Animation Studios, left his job of 18 years at the Walt Disney Studios at age 46 to create his own studio in Kathmandu. With a background in computer software, Joshi was working as a graphics software developer for Disney. He was in the team that developed the animation system used for “Beauty and the Beast”, which went on to be nominated for Best Picture at the 1992 Academy Awards. Leaving an 18 year old job, the post of Head of Production and a team of 250 artists and technologists under him was not easy for Kiran. There were doubts among his friends in Walt Disney if an animation studio in Nepal would deliver the quality and turnaround they were seeking.

The year 2007 was the turning point in his life. When he had come to Nepal for the funeral of

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Jonas Lindblom (Swedish Investor in Nepal)

“The market in India is very complicated and it is difficult to do business there. There are many middlemen in India and various agents are involved in almost every sector. But in Nepal, it’s simple. There are few people in entrepreneurship and everyone knows each other. Nepal is simpler for a foreigner like me and its way too easier to do business in Nepal. That’s why I came here,” said Swedish entrepreneur, Jonas Lindblom.

Lindblom is running two companies in Nepal – Artamus Nepal (P) Ltd. And L&L House of Commerce (P) Ltd.

Artamus Nepal focuses on Internet Marketing for European clients and L&L House of Commerce is a trading and investment company. The latter company focuses to introduce high quality products from Scandinavia and export unique Nepali products to the European market.He shared his ideas about investing in Nepal from a foreigner’s perspective here during September’s Last Thursdays Entrepreneurs Speak, jointly organized by Samriddhi, The Prosperity Foundation and Entrepreneurs

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And a certain banker reasons with me:

“the real estate in Kathmandu valley is pretty much stable and will not collapse in the near future.”

His reasoning: If politics gets worse and uncertainties arise, everyone is pouring into  the safe Kathmandu valley (the only place of seemingly stability in Nepal) which in turn has a limited area because of it being a valley thus the prices will never crash. (but they might still go up)

If the situation of the country gets better, people will afford more and be able to purchase land at a premium value. and Kathmandu benefits from that being the commercial and political hub.

he concludes: “either way, investing in real estate in Kathmandu is a win win situation.”

but then, “what goes up, will come down”…

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The foreign embassies in Kathmandu hold auctions that are hugely popular and people come in huge droves to buy and bid and (have fun).
i stayed on line for an hour and half to enter the one at American embassy. brutal !

I love the thrill of finding things of value that others don’t see, in public auctions (of new and used items). (maybe its in the genes).

Well if you can get a classic American couch (sofa) that probably cost a thousand dollar at less than two hundred .. the hell if i care if its used for years. (well…as long as they look good).

I think public auctions could be one small but important way to stimulate the flailing economy in kathmandu. (with all that money people have been keeping in banks and NOT using it, it could be a outlet for people to gather, socialize and spend). Also it is a way to bring out people in the spirit of spending (and not keeping and saving).

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