IFC Names Rathnija Arandara as New Resident Representative for Nepal

The International Finance Corporation (IFC), a member institution of the World Bank Group, has appointed Rathnija Arandara as its new Resident Representative for Nepal. Based in Kathmandu, Arandara will lead IFC’s efforts to expand its investment portfolio and advisory services while strengthening partnerships to support private sector development in Nepal.

Arandara brings extensive experience to the role, having served with the World Bank Group since 2011. The Sri Lankan national most recently worked with IFC’s Country Advisory and Economics team in South Asia, where she focused on financial inclusion, agribusiness development and improving investment climates across various industries.

In her new position, Arandara will oversee IFC’s business development initiatives in Nepal, with particular emphasis on infrastructure, digital services, tourism and financial sector development. “Nepal possesses significant untapped potential,” Arandara stated. “IFC remains committed to collaborating with both public and private sector partners to foster sustainable and inclusive economic growth, in alignment with the World Bank Group’s broader strategy for Nepal.”

Prior to joining the World Bank Group, Arandara gained valuable private sector experience working with PwC Indonesia and Oracle AG in Switzerland, specializing in mergers, acquisitions and financial markets. She also served as an investment officer at Sri Lanka’s National Development Bank.

IFC has been actively engaged in Nepal’s development, committing nearly $700 million over the past five years across key sectors including clean energy, private equity, financial services and hospitality. These investments have supported small and medium enterprises, promoted renewable energy adoption, and advanced financial and gender inclusion initiatives.

The fiscal year 2024 proved particularly significant for IFC in Nepal, with $84 million committed across three core sectors: Infrastructure; Manufacturing, Agribusiness and Services; and Financial Institutions. Each sector has undertaken at least one major transformative project during this period.

As a member of the World Bank Group, IFC represents the largest global development institution focused exclusively on private sector growth in emerging markets. Operating in more than 100 countries, IFC utilizes its financial resources, technical expertise and influence to stimulate investment opportunities that reduce poverty while promoting environmental sustainability. In fiscal year 2024, IFC achieved a record $56 billion in commitments to private enterprises and financial institutions across developing nations worldwide.