Finance Minister Swarnim Wagle Takes Charge as AIIB Vice Chair

Nepal has been selected to serve a one year term as Vice Chair for the non-regional member countries of the Asian Infrastructure Investment Bank (AIIB). The decision was made in Doha, Qatar, during the 11th Annual Meeting of the bank's Board of Governors. Ireland was also chosen as a Vice Chair for the non-regional group alongside Nepal.

Finance Minister Dr. Swarnim Wagle formally assumed the role on behalf of Nepal. Speaking at a roundtable during the meeting, Dr. Wagle highlighted that building basic structures like roads, electricity, and technology is essential for economic growth in developing nations. He urged the bank to offer more flexible financing tailored to the needs of lower-income countries and to help create a better environment for private investment.