Finance Minister Dr. Swarnim Wagle and World Bank President Ajay Banga held a high-level meeting in Washington D.C. to discuss disaster recovery and economic cooperation.
High Level Meeting Held in Washington
Finance Minister Dr. Swarnim Wagle recently visited the United States after being invited by World Bank Group President Ajay Banga. During this important trip, the Minister lead a Nepali delegation to discuss several development issues.
Focus on Flood Relief and Economic Growth
The main topic of their talk was the damage caused by the recent floods in the Bhote Koshi river at Rasuwa. Minister Wagle explained the need for rebuilding the physical and economic structures that was broken by the disaster. President Banga felt sad about the damages and promised that the World Bank will help Nepal in its reconstruction efforts.
Both leaders also talked about Nepal’s big economic reforms. They discussed using about 1 arba US dollars to help with insurance and social protection programs. President Banga liked the steps taken by the new government to change policies and said Nepal need to invest more in infrastructure and create jobs inside the country.
Future Cooperation and Joint Investments
President Banga mentioned that the World Bank will start new plans to work with the Asian Development Bank (ADB) and the International Finance Corporation (IFC) to bring more money into Nepal’s priority sectors. David Sislen, who is the World Bank country director for Nepal, said this is the first direct bilateral meeting between a Nepali Finance Minister and a World Bank President in the last thirty years. The meeting was also joined by high officials including World Bank Vice Presidents Jhanes Jut and Junaid Ahmad.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
