Finance Minister Barshaman Pun Leads Delegation to US for World Bank and IMF Meeting

Finance Minister Barshaman Pun departed for the United States to participate in a joint meeting of the World Bank and International Monetary Fund. He flew to Washington DC this morning via Qatar Airways, leading a four-member delegation, as informed by his secretariat. The delegation includes Sri Krishna Nepal, Chief of the Ministry's International Economic Cooperation and Coordination Division, Under-Secretary Kanchan Basnet, responsible for the World Bank desk, and another Under-Secretary Bhupal Raj Shakya, who also serves as the personal secretary to Minister Pun.

During the three-day visit to the US, Minister Pun is set to hold meetings with key figures from various institutions, including the World Bank and IMF. Additionally, he will engage with officials from the US Agency for International Development (USAID), the US International Development Finance Corporation (DFP), and other stakeholders such as the American Chamber of Commerce and non-resident Nepalis.

Minister Pun will address the ministerial meeting of Group V-20, focusing on climate change issues and financial support. He will also participate in discussions on clean energy transition and various bilateral and multilateral meetings. Key agenda items include preparations for the International Development Association (IDA)-21 meeting, investment priorities with the World Bank in Nepal, and the financial management of the Upper Arun Semi-Reservoir Hydropower Project, among others.

Before his departure, Minister Pun held discussions with Energy Minister Shakti Bahadur Basnet, Nepal Electricity Authority Managing Director Kulman Ghising, and representatives from the World Bank and Asian Development Bank in Kathmandu. It was agreed to expedite the financial management of the Upper Arun Project, which is considered a significant project. Minister Pun aims to update development partners and the private sector on the government's reform efforts to enhance Nepal's investment climate.

He plans to seek increased support for Nepal's Sustainable Development Goals, as well as for the reconstruction of infrastructure and buildings damaged by the earthquake in Jajarkot, Rukum, and Bajhang. Discussions will also focus on maximizing the effectiveness of assistance from international partners for policy reforms and exploring further areas of cooperation.