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Foreign Minister Arzu Rana Deuba has described the mountains as humanity's shared global resources.

In her welcome statement in the Opening Session of the Sagarmatha Sambaad organized for the first time in Kathmandu on the theme of 'Climate Change, Mountains and the Future of Humanity', she said the mountains are the source of fresh water to millions of people.

Stating that the Himalayas are bearing the greatest burden of climate change-induced stressors today, she noted that the rate of glacier melting due to climate change effects has significantly increased. Minister Rana mentioned that this has negatively impacted the daily lives of the mountain communities.

"Mountains store and supply freshwater, act as natural carbon sinks and are home to breathtaking biodiversity and abundant natural resources. They offer an array of sustainable climate solutions in the form of reforestation, watershed protection and eco-tourism," she stated.

Reminding that the climate change-induced disasters have shaken the very foundation of human existence and livelihoods, the Foreign Affairs Minister said the floods and glacial lake outburst triggered by climate change impact has caused a big damage, and the droughts, water scarcity and forest fires has given untold suffering.

"The Sambaad provides an occasion for reflection and introspection and aims to encourage meaningful conversations on matters that matter to us all, from the mountains to the seas, and from the Global North to the Global South," she added.

Noting that the Himalayas, in particular, are facing an unprecedented stress test in real time today, exposing not only the fragile nature of our mountain ecosystems but also a glaring evidence of the lack of meaningful global climate action, she said Nepal, as a mountainous country, is forced to face a heavy and disproportionate burden of the negative impacts of climate change.

"Yet there are incredible examples of many local communities fighting strenuously against climate change. Women, indigenous people, youth, and marginalized groups- especially in mountain regions- are the gentle caretakers of our natural world. They fight on the home ground and they know how to fight a long fight."

The minister stressed on the occasion that recognizing and giving value to their local knowledge and lived experience is critical to building adaptive and sustainable communities, as is empowering them with resources and opportunities for finding sustainable solutions to an existential crisis.

Nepal has committed to achieving the target of net zero greenhouse gas emissions by 2045.  Hydropower, a clean form of energy, has remained Nepal's largest source of electricity. 

Minister Rana shared community forest, a natural resource management program pioneered by Nepal, has not only helped Nepal enlarge its forest cover significantly but has also emerged as a model of participatory conservation the world over.

"Climate change is a global crisis transcending national boundaries. Nothing less than a global alliance based on justice and solidarity can hope to make a dent on the existential crisis that climate change brings in its wake", she mentioned, adding that we call for a sufficient and effective loss and damage fund that could be easily accessed by countries in crisis. 

The Foreign Minister added that the world should acknowledge the vulnerabilities of countries like Nepal as well as support targeted mitigation and adaptation strategies through the provision of climate finance, adaptation support and technology transfer.

Nepal has therefore been consistently at the forefront of advocating for climate justice in international forums and multilateral institutions, she opined.

Minister Rana argued that this forum would be an opportunity to contemplate on the linkage between climate change and regional and international peace, security and stability as well as the impacts of climate change on migration, food security, humanitarian crisis and disaster risks. 

She expressed the belief that the Dialogue would help spark fresh ideas, foster cooperation and mobilize greater political willpower in combating the specter of climate change and the existential threat to the future of humanity.

Russian President Vladimir Putin has appointed Army General Oleg Salyukov as Deputy Secretary of the Security Council, the Kremlin announced Thursday.

Salyukov will be relieved of his current post as Commander-in-Chief of the Russian Ground Forces, a position he has held since 2014, it said. He played a key role in military operations and oversaw Victory Day parades, including this year’s on May 9, as reported by Reuters.

Born in 1955 in Saratov, Salyukov brings decades of military experience to his new role.

The Sagarmatha Sambaad, the international dialogue on climate action, sustainability, and global partnerships, themed "Climate Change, Mountains and the Future of Humanity" has kicked off in Kathmandu today. 

Prime Minister KP Sharma Oli inaugurated the Sagarmatha Sambaad amid a special function a while ago.

More than 350 national and international distinguished personalities are present at the event.   

Earlier, Foreign Affairs Minister and Coordinator of Sambaad Management Committee Arzu Rana Deuba welcomed the distinguished guests attending the event. 

Currently, the distinguished guests are addressing the event. 

There will be parallel thematic sessions after the closing of the inaugural session.

There is a glimmer of hope that the long-pending transitional justice process in Nepal might finally be moving forward. The government has recently appointed heads and members to both the Truth and Reconciliation Commission and the Commission of Investigation of Enforced Disappeared Persons. However, skepticism remains widespread regarding whether the new leadership will truly be able to navigate and resolve the deeply complex and often contentious issues inherent in this process. Concerns have been raised about the potential inexperience of some nominees, the possibility of undue political influence and the absolute necessity of providing these commissions with adequate resources to carry out their critical work effectively. It’s important to remember that over 60,000 complaints are currently awaiting thorough investigation, which underscores the magnitude of the task ahead.

In an effort to highlight the urgent issue of climate change and its impacts on the fragile Himalayan region, the government is preparing to host the Sagarmatha Sambaad from May 16 to 18 in Kathmandu. This event aims to draw global attention to the specific vulnerabilities of mountain ecosystems. The government has extended invitations to 175 foreign representatives, including environment ministers from various countries. The presence of these international figures is intended to foster dialogue and collaboration on addressing climate challenges. However, the government has failed to ensure participation of heads of government and state, which could impact the summit’s overall influence.

The government’s continuing delay in appointing a new governor for the Nepal Rastra Bank is drawing increased criticism from various sectors of society. While both the ruling Nepali Congress and the CPN-UML assert that there are no political disputes hampering the process, the appointment remains stalled. This delay has rendered the government-formed recommendation committee effectively obsolete. In a further development, one of its members, Biso Poudel, has recently resigned from the committee, amidst speculation that he himself hopes to be appointed as the governor. Speaking at a public event on May 15, Prime Minister Oli said that he does not have a preferred candidate in mind, but emphasized his desire to see a highly capable individual take on the crucial leadership role.

On the political front, royalist forces have announced their intention to launch street protests beginning May 29. Their aim is to pressure the mainstream political parties into considering the restoration of the monarchy and the reinstatement of a Hindu state. Last week, former King Gyanendra Shah met with a number of pro-monarchy leaders, reportedly to encourage them to mobilize an impactful movement. It is worth noting that while royalist forces have historically been divided, there have been recent attempts to project a unified front. In response to these preparations, major political parties, particularly the UML and CPN (Maoist Center), have issued strong warnings against any attempts to bring back the monarchy. These parties have also directed their respective youth organizations to actively counter the planned protests by the royalist factions.

In parliamentary affairs, discussions are currently underway in the lead-up to the annual budget. Lawmakers from across the political spectrum are using this opportunity to voice their views and priorities regarding the upcoming budget. The government’s policy and program have already been endorsed by the Parliament, setting the broad parameters for the fiscal year ahead. Finance Minister Bishnu Poudel is now focusing on securing support from not only the ruling parties but also the opposition to finalize the budget.
As Nepal anticipates the arrival of the monsoon season in the coming months, predictions indicate that the country is likely to receive higher than average rainfall this year. A recent incident in Kavre district is a stark reminder of the potential dangers. A heavy rain event caused temporary blockage of the BP Highway and resulted in damages in the Panauti area of Kavre. This incident should serve as a wake-up call for government agencies, highlighting the urgent need for thorough preparations to cope with possible monsoon-induced disasters. Authorities are urged to prioritize critical infrastructure, particularly the main highways, in their mitigation efforts.

On a more positive note, the banking sector in Nepal is currently experiencing a steady rebound in credit growth. This positive trend is largely attributed to the rise in foreign trade and the increased demand for loans across key sectors of the economy. A recent report from the Nepal Rastra Bank indicates that private sector credit from banks and financial institutions grew by seven percent, reaching Rs 5,534.77bn, during the first nine months of the current fiscal year 2024-25. This growth reflects a credit disbursement of Rs 361.3bn between mid-July 2024 and mid-April 2025. To put this in perspective, credit growth was 5.1 percent during the same period of the previous fiscal year, with a total credit portfolio of Rs 5,167.17bn in mid-April of last year. On a year-on-year basis, credit disbursement grew by 8.3 percent in mid-April.

Lastly, China’s Deputy Speaker and Vice Chairman of the Standing Committee of the National People’s Congress, Ziao Jie, who arrived in Nepal on May 14 to participate in the Sagarmatha Sambaad, is taking the opportunity to engage with Nepali leaders and Parliament. He has already met with Prime Minister Oli and is scheduled to meet with Speaker Dev Raj Ghimire, National Assembly Chairman Narayan Dahal, and various cross-party leaders. 

Parliamentary cooperation between Nepal and China formally began in 2022.