FinMin expresses displeasure with WB official

KATHMANDU, Sep 5: Finance Minister Shankar Prasad Koirala has expressed his displeasure with a senior official of World Bank (WB) over the abrupt relocation of its Country Representative´s office from Nepal. At a meeting with Dr Sundaran Annamalai, director of World Bank South Asia Group, Koirala asked for reinstatement of the WB´s office in the country.



WB had announced in 2011 that its country director based in Bangladesh will oversee Nepal affairs too, a move that had showed declining significance of Nepal for the global financial institution.[break]



Koirala also emphasized stronger collaboration between Nepal and WB to reduce poverty. He also sought WB´s support in achieving the government´s target to bring down the poverty to 18 percent within three years from existing 23.8 percent. Koirala also apprised Annamalai about the progress in introducing issuance of bond in local currency to minimize the risk for foreign investors.



On the occasion, Annamalai assured that Nepal´s concerned will be conveyed to WB´s upcoming executive council meeting.

Meanwhile, Sami Mohammed Al-Sulaiman, the Kuwaiti ambassador to Nepal, met Koirala and stressed on the need to initiate cooperation between representative organizations of business people of both countries. Al-Sulaiman is a resident ambassador to India. On the occasion, Koirala asked Al-Sulaiman to open a resident embassy of Kuwait in Nepal, urging for Kuwaiti investment in infrastructure sector.

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