Nepal has Initiated Steps for Economic Reforms, PM Tells WB's Senior MD Trotsenburg   

Third Replenishment Meeting of IDA Begins Today

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Nepal has Initiated Steps for Economic Reforms, PM Tells WB's Senior MD Trotsenburg   

KATHMANDU: The Government of Nepal has assured World Bank officials that the country has created a favourable environment for investment. Prime Minister Pushpa Kamal Dahal said so during a meeting with a visiting delegation of World Bank, led by Senior Managing Director (MD), Axel van Trotsenburg, who paid a courtesy call on Prime Minister Dahal at the latter's official residence in Baluwatar on Monday evening.    
According to the PM's secretariat, the two discussed issues related to Nepal's development, the World Bank's support to Nepal's development endavours and other aspects.    
The World Bank’s Senior Managing Director Axel van Trotsenburg arrived in Kathmandu on Monday on his official visit to Nepal to chair the Third Replenishment Meeting of the the International Development Association (IDA), the World Bank’s fund for low-income countries.   
On the occasion, the PM thanked the World Bank, as a stable development partner, for providing reliable resources for Nepal's development and financing for the past six decades.    
Stating that his government has initiated steps for economic reforms through the new budget and policy reform, the PM assured the World Bank's Senior Managing Director of favourable environment for foreign investment and prudent financial management.    
The PM shared that energy, tourism, agriculture business and information technology are the key sectors of comparative advantages in Nepal.    
Stating that Nepal has been seriously impacted by climate change, PM Dahal said Nepal has been regularly advocating for climate justice in the international forums and hoped that the World Bank will have a crucial support for Nepal in this effort.    
On the occasion, Trotsenburg pledged the World Bank's support to Nepal's economic development.    
Trotsenburg is scheduled to chair the Third IDA21 Replenishment Meeting hosted by the government in Kathmandu on June 18-21.    
The International Development Association (IDA) is working with donors and borrowing countries to replenish resources that will be used to deliver on global development goals, according to the World Bank.    
The four-day IDA21 meeting will bring together officials from 65 donor governments and representatives of borrowing member countries to discuss the proposed IDA21 policy focusing on areas such as people, planet, prosperity, infrastructure, and digitalization. -- RSS


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