Kathmandu. Finance Minister Dr. Swarnim Wagle and President of the World Bank Group Ajay Banga held a high-level bilateral meeting. Finance Minister Dr. Wagle and Chairman Banga met in Washington DC of the United States of America at the invitation of the World Bank President. Wagle and Chairman Banga met in Washington DC of the United States.

During the meeting, Finance Minister Wagle discussed on the reconstruction of physical and economic infrastructures damaged by the recent floods in the Bhotekoshi River in Rasuwa, broader economic reform and mobilization of resources worth around one billion US dollars for insurance and social protection, according to Finance Minister Wagle’s private secretariat.

KATHMANDU: Expressing sorrow over the losses caused by the floods and disasters in Nepal, the World Bank has pledged to provide significant support in the reconstruction works.

He also praised the steps taken by the new government for policy and institutional reforms and stressed on the need of expanding investment in infrastructure and creating employment opportunities in the country.

He said the World Bank would take new initiatives to expand joint investment in priority areas of Nepal by coordinating with development partners such as the Asian Development Bank and the International Finance Corporation.

According to David Sissen, World Bank Country Director for Nepal, this is the first direct bilateral meeting between the World Bank President and the Finance Minister of Nepal in the last three decades.

Also present on the occasion were World Bank Vice Presidents Jahanas Jat and Junaid Ahmed, among others.