KATHMANDU, July 17: World Bank Senior Managing Director Axel Van Trotsonburg has arrived in Nepal for a five-day visit. He is in Nepal in connection with the ‘IDA21 Third Replenishment Meeting' of the International Development Association (IDA) under the World Bank.
For the first time in Nepal, a high-level meeting of the World Bank will be held for three days from June 18. Trotsonburg will chair the meeting which will decide a strategy on the World Bank's assistance to low-income countries.
Revised interest rate corridor system introduced
Earlier, the government had said that World Bank President Ajay Banga would participate in the meeting. However, with the senior managing director presiding over the meeting, the chairman will not come to Nepal. Trotsonburg is the World Bank's second-ranked official after Banga.
Trotsonburg will stay in Nepal for five days. He is scheduled to hold high-level meetings with Prime Minister Pushpa Kamal Dahal, Finance Minister Barsha Man Pun and Chief Secretary Baikuntha Aryal.
He will also meet with development partners, the World Bank said. The International Development Association (IDA) is an integral part of the World Bank that helps low-income countries sustain. More than 65 development partners and representatives of countries are expected to participate in the IDA21 Third Replenishment Meeting to be held in Kathmandu.
