Axel van Trotsenburg, the World Bank's senior managing director, arrived in Nepal on Sunday for a five-day visit. His trip is centered around chairing a high-level meeting of the International Development Association (IDA), the World Bank's fund for assisting the world's poorest countries.
The three-day IDA21 Replenishment Meeting, being held in Nepal for the first time, will run from June 4-6. Over 65 representatives from donor countries and development partners are expected to attend.
During the meeting, strategies will be discussed for IDA's assistance and funding to low-income nations going forward. As the second highest-ranking official at the World Bank after president Ajay Banga, van Trotsenburg will lead these crucial discussions.
In addition to the IDA conference, van Trotsenburg has meetings scheduled with Nepal's top leadership including Prime Minister Pushpa Kamal Dahal Prachanda, Finance Minister Barshman Pun, and Chief Secretary Baikuntha Aryal. He will also meet with other development partners active in Nepal.
Originally it was announced that World Bank President Banga would participate, but with van Trotsenburg chairing the meeting, Banga's visit was canceled.
The choice of Kathmandu to host this major World Bank event allows Nepal to play a prominent role in shaping policies for global poverty alleviation and development finance for poor countries over the next three-year IDA funding cycle.
