Kathmandu, June 9: The meeting of the International Development Association (IDA) under the World Bank Group is going to be held in Kathmandu from June 18 to 21. The third replenishment meeting under ‘IDA-21′, the organization that provides grants and subsidized loans to the world’s poorest countries, is going to be held in Kathmandu.
This is the largest event to be held in Nepal under the World Bank Group. Prime Minister Pushpa Kamal Dahal will inaugurate the meeting. Various countries had submitted proposals with the commitment to organize this event which is being held under the process of IDA 21, however, the World Bank chose to hold the event in Kathmandu. In the end, the World Bank Board of Directors chose Nepal for the meeting from among Tajikistan and Nepal.
For the last six years, Nepal had informally lobbied the World Bank headquarters in Washington DC to hold the IDA-19 meeting in Kathmandu.
Finance Minister Barshman Pun will be the chief guest of the concluding session. The Ministry of Finance has formed an organizing committee under the leadership of Secretary Madhukumar Marasini and a management and coordination committee under the coordination of Joint Secretary Sri Krishna Nepal, head of the International Financial Assistance Coordination Division of the Ministry.
World Bank President Ajay Banga, senior managing director Axel van Trotsenberg, who oversees the development policy and partnership department of the bank’s second tier, vice president and five directors are coming to Nepal from Washington to participate in the IDA meeting, which is an international alliance of development partners.
Joint Secretary Nepal informed that more than 300 representatives from 60 donor countries and more than 90 partner countries will participate in the conference. IDA, which was established in 1960, is an organization that provides multilateral assistance to countries that are lagging behind in economic development in addition to concessional loans and grants from the World Bank.
Joint Secretary Nepal said that it is a matter of happiness that Nepal has been chosen as the venue of this level of meeting. He mentioned that the world community will be aware of the development projects under construction in Nepal in cooperation with partners, their positive aspects and challenges and the meeting will be important to share this experience with the world.
People’s News Monitoring Service.
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