PM Dahal Pushes Economic Reforms in Talks with World Bank’s Senior MD

Axel van Trotsenburg, the Senior Managing Director of the World Bank, paid a courtesy visit to Prime Minister Pushpa Kamal Dahal at his official residence in Baluwatar on Monday evening. The meeting underscored the longstanding partnership between Nepal and the World Bank in fostering the country’s development initiatives.

According to the Prime Minister’s secretariat, the discussions between Trotsenburg and Prime Minister Dahal centered around Nepal’s development trajectory and the continued support from the World Bank. They highlighted the pivotal role of the World Bank in providing crucial resources and financing for Nepal’s economic advancement over the past six decades.

Axel van Trotsenburg arrived in Kathmandu on Monday to chair the Third Replenishment Meeting of the International Development Association (IDA), the World Bank’s fund dedicated to supporting low-income countries. The meeting, scheduled from June 18-21, aims to mobilize resources to address global development challenges across various sectors including people, planet, prosperity, infrastructure, and digitalization.

During the meeting, Prime Minister Dahal emphasized Nepal’s commitment to economic reforms and creating a favorable environment for foreign investment through recent budget and policy initiatives. He identified energy, tourism, agriculture, and information technology as key sectors poised for growth in Nepal’s economy.

In addition, Prime Minister Dahal highlighted Nepal’s vulnerability to climate change impacts and reiterated Nepal’s advocacy for climate justice on the global stage. He expressed confidence in the World Bank’s continued support in addressing these challenges.

In response, Axel van Trotsenburg reaffirmed the World Bank’s commitment to supporting Nepal’s economic development efforts. He acknowledged Nepal’s progress and assured continued collaboration to advance development goals and enhance resilience against climate change impacts.

The IDA21 Replenishment Meeting in Kathmandu gathers officials from 65 donor governments and borrowing member countries to strategize on policy areas crucial for sustainable development. The outcomes of this meeting are expected to further strengthen the partnership between Nepal and the World Bank in achieving shared development objectives.