Key Takeaways:

• Wagle met World Bank President Ajay Banga in Washington
• Discussions focused on Nepal's flood recovery and reconstruction
• Minister also reviewed progress of MCC-funded projects
• Meetings covered investment and Nepal-US economic cooperation

KATHMANDU, OCTOBER 6 Finance Minister Dr Swarnim Wagle met Ajay Banga, president of the World Bank Group, at the institution's headquarters in Washington, DC, on Monday to discuss continued support for Nepal's recovery, rehabilitation and reconstruction following recent devastating floods. According to the Embassy of Nepal in Washington, DC, Wagle thanked the World Bank for its longstanding partnership with Nepal and discussed ways to further strengthen cooperation between Nepal and the international financial institution. Banga expressed condolences to the Government of Nepal and families affected by the floods and conveyed the World Bank's support for the country's recovery efforts. Earlier, Jason Small, acting vice president for operations at the Millennium Challenge Corporation (MCC), paid a courtesy call on Wagle at the Nepali Embassy. During the meeting, the two discussed the status of implementation and timely completion of projects being carried out under the MCC Compact. Wagle also met Caroline Vik, chief policy adviser at the US International Development Finance Corporation, to discuss Nepal-US economic and development cooperation. The discussions included opportunities to expand investment and strengthen partnerships with the private sector, according to officials. During his visit to the Nepali Embassy, Wagle was briefed by Chargé d'Affaires ad interim Sharad Raj Aran on the embassy's activities, services and opportunities to further enhance Nepal-US relations. Wagle urged embassy officials to continue delivering effective and responsive services while prioritising economic diplomacy and efforts to strengthen bilateral ties with the United States. Sharad Raj Aran, Joint Secretary Amrit Lamsal and other embassy officials attended the meetings. Wagle arrived in Washington on October 3 at the invitation of the World Bank Group president and is scheduled to return to Kathmandu on October 6. The meetings form part of Nepal's efforts to mobilise international support for disaster recovery while advancing development cooperation, investment partnerships and key infrastructure initiatives.