Kathmandu. Finance Minister Dr. Swarnim Wagle and President of the World Bank Group Ajay Banga held a high-level bilateral meeting. Finance Minister Dr. Wagle has reached the United States leading a delegation at the invitation of the President of the World Bank. Wagle and Chairman Banga met in Washington D.C. The meeting took place in Washington DC. The meeting was held in the United States.
During the meeting, Finance Minister Wagle held extensive discussions on the reconstruction of physical and economic infrastructures damaged by the recent floods in the Bhotekoshi River in Rasuwa, comprehensive economic reforms, and mobilization of resources worth about one billion US dollars for insurance and social protection. On the occasion, World Bank President Banga expressed sorrow over the loss caused by the floods and disasters in Nepal and expressed commitment to provide significant support in the reconstruction sector.
Lauding the policy-level and institutional reforms undertaken by the new government, he stressed the need to expand investment in infrastructure and create employment opportunities in the country.
Banga said that the World Bank would take new initiatives to expand joint investment in Nepal’s priority areas by coordinating with development partners including the Asian Development Bank and the International Finance Corporation. According to David Sissen, World Bank Country Director for Nepal, this is the first direct bilateral meeting between the World Bank President and Nepal’s Finance Minister in the last three decades.
Also present on the occasion were World Bank Vice-Presidents Jahanas Jat and Junaid Ahmad among others.
