KATHMANDU: Finance Minister Dr Swarnim Wagle held a bilateral meeting with World Bank Group President Ajay Banga in Washington, DC, on Monday.
Wagle, who arrived in the United States leading a Nepali delegation at Banga’s invitation, discussed a range of issues, including the reconstruction of physical and economic infrastructure damaged by the devastating Bhotekoshi-Trishuli floods, macroeconomic reforms and the mobilisation of around USD 1 billion for insurance and social protection, according to the minister’s private secretariat.
Banga expressed condolences over the loss of lives and extensive damage caused by the disaster in Nepal and pledged significant World Bank support for reconstruction efforts.
He also appreciated the government’s ongoing policy and institutional reforms and stressed the need to increase infrastructure investment and create more employment opportunities within Nepal.
Banga said the World Bank would take initiatives to expand joint investment in Nepal’s priority sectors by bringing together development partners, including the Asian Development Bank and the International Finance Corporation.
World Bank Country Director for Nepal David Sislen said the meeting marked the first direct bilateral meeting between the World Bank president and a Nepali finance minister in three decades.
World Bank Vice Presidents Johanes Zutt and Junaid Ahmed, among other senior officials, also attended the meeting.
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