Finance Minister Wagle meets World Bank Group President Ajay Banga
Summary
Finance Minister Swarnim Wagle met World Bank Group President Ajay Banga in Washington, DC to seek about US$1 billion for reconstruction and broader economic reforms after flood damage in Rasuwa. The World Bank pledged support for recovery efforts and signaled new investment initiatives in Nepal.
Key Points
- Finance Minister Swarnim Wagle held a bilateral meeting with World Bank Group President Ajay Banga in Washington, DC.
- Wagle sought around US$1 billion for reconstruction of flood-damaged physical and economic infrastructure in Rasuwa, along with support for reforms, insurance, and social protection.
- Ajay Banga expressed sorrow over the damage in Nepal and pledged strong World Bank support for reconstruction.
- The World Bank said it would launch new initiatives to expand joint investments in Nepal’s priority areas with development partners.
