Kathmandu. Finance Minister Dr. Swarnim Wagle and World Bank Group President Ajay Banga have met.

During the meeting, Finance Minister Dr. Wagle held an in-depth discussion on the reconstruction of physical and economic infrastructures damaged by the recent floods in the Bhotekoshi River in Rasuwa, comprehensive economic reforms, and mobilization of resources worth about one billion US dollars for insurance and social protection.

On the occasion, World Bank President Banga expressed sorrow over the loss caused by floods and disasters in Nepal and pledged to provide significant support in the reconstruction sector. He also praised the steps taken by the new government for policy and institutional reforms and stressed on the need to expand investment in infrastructure and create employment within 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 including the Asian Development Bank and the International Finance Corporation.

According to the World Bank Country Director for Nepal, David Sislane, this is the first in-person 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 Ahmad among others.