World Bank senior managing director visits Nepal

The World Bank’s senior managing director Axel van Trotsenburg arrived in Kathmandu today on his first official visit to Nepal, to meet with government and other stakeholders and chair the Third Replenishment meeting of the World Bank’s fund for low-income countries, the International Development Association (IDA).

As part of his five-day visit, today, Trotsenburg met with Prime Minister Pushpa Kamal Dahal, finance minister Barsha Man Pun, chief secretary Baikuntha Aryal, and development partners.

Trotsenburg will chair the Third IDA21 Replenishment meeting hosted by the government in Kathmandu on June 18-21. The International Development Association (IDA) is the part of the World Bank that helps the world’s low-income countries.

In 2024, IDA is working with donors and borrowing countries to replenish resources that will be used to deliver on global development goals. IDA21-- the 21st replenishment round since 1960 -- will work to end poverty on a livable planet.

The four-day IDA21 meeting in Kathmandu will bring together officials from 65 donor governments and representatives of borrowing member countries who will discuss the proposed IDA21 policy focus areas--people, planet, prosperity, infrastructure, and digitalisation. They will also look at financing scenarios, the level of donor contributions required to support these scenarios and assess the financing needs of countries supported by IDA.

Trotsenburg will also visit the IDA-financed Earthquake Housing Reconstruction Project in Rabiopi in Bagmati Province as part of the replenishment meeting.

The Third IDA21 Replenishment meeting will also be attended by other senior World Bank Group officials, including World Bank managing director for Operations Anna Bjerde and managing director and World Bank Group chief financial officer Anshula Kant.