Kathmandu, October 6. Finance Minister Dr. Swarnim Wagle held a high-level bilateral meeting with World Bank Group President Ajay Banga in Washington, D.C., USA.
Finance Minister Wagle, who traveled to the US leading a delegation at the invitation of World Bank Group President Banga, discussed Nepal's priority areas during the meeting.
Discussions focused on mobilizing resources worth approximately one billion US dollars for sectors including the reconstruction of physical and economic infrastructure damaged by recent floods in the Bhote Koshi River (Rasuwa), macroeconomic reforms, insurance, and social protection.
On this occasion, World Bank Group President Banga expressed sorrow over the damage caused by the floods in Nepal and pledged significant support from the World Bank for reconstruction efforts.
President Banga commended the steps taken by the new government toward policy and institutional reforms, while emphasizing the need to expand infrastructure investment and create domestic employment opportunities.
President Banga also informed that the World Bank would advance new joint investment initiatives by coordinating with development partners—such as the Asian Development Bank (ADB) and the International Finance Corporation (IFC)—to expand investment in Nepal's priority sectors.
According to David Sislen, the World Bank’s Country Director for Nepal, this marks the first direct bilateral meeting between a World Bank Group President and a Finance Minister of Nepal in three decades. High-ranking officials, including World Bank Vice Presidents Johannes Zutt and Junaid Ahmad, participated in the meeting.
