Kathmandu, Oct 3: Finance Minister Dr Swarnim Wagle left for Washington, DC, on Friday for a two-day visit aimed at mobilising international support for Nepal’s post-disaster reconstruction and attracting more investment in infrastructure.
A Nepali delegation led by Wagle left for the United States at the invitation of World Bank Group President Ajay Banga.
During the visit, Wagle is scheduled to meet with senior officials from the World Bank, the US Department of the Treasury, and the US International Development Finance Corporation (DFC). He will also meet leading private sector investors.
Discussions with World Bank and US government officials will focus particularly on mobilising additional financial assistance for reconstruction and resilient development following the recent devastating flood in the Bhotekoshi River.
The disaster caused extensive damage to physical and economic infrastructure, creating a major financing requirement for reconstruction and recovery.
Wagle is expected to seek greater support from development partners to rebuild damaged infrastructure and make new projects more resilient to future disasters.
The finance minister will also discuss ways to increase investment from international development partners and the private sector in major infrastructure projects, including roads and electricity transmission lines.
The government believes greater investment in such infrastructure can help create jobs, expand economic opportunities and support Nepal’s broader economic recovery.
The visit comes as Nepal seeks substantial external resources to rebuild infrastructure damaged by recent disasters while also attempting to attract more private capital into sectors considered important for long term economic growth.
People’s News Monitoring Service
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