Finance Minister Pun heads to US for WB, IMF meetings and climate change advocacy

KATHMANDU: Finance Minister Barshaman Pun departed for the United States today to participate in a joint meeting of the World Bank and International Monetary Fund.

Traveling with a four-member delegation, Minister Pun's itinerary includes meetings with key figures such as WB Managing Director Anna Bjerde, Vice Presidents Martin Riser, Akihiko Nishio, Guangzhe Chen, IFC Vice President Ricardo Puliti, and IMF Assistant Managing Director Bo Li.

During his three-day visit, Minister Pun is set to engage with officials from the US Agency for International Development (USAID), the US International Development Finance Corporation (DFP), as well as representatives from the private sector and non-resident Nepalis.

Additionally, he will address the ministerial meeting of Group V-20, focusing on climate change impact and financial support for affected nations.

Scheduled sideline discussions cover topics such as the high-level climate nexus, clean energy transition in South Asia, and bilateral and multilateral meetings.

Minister Pun will also tackle preparations for the International Development Association (IDA)-21 meeting, prioritize investment partnerships with the World Bank in Nepal, and address financial management concerns for the 1,063 MW Upper Arun Semi-Reservoir Hydropower Project.

In recent meetings in Kathmandu, Minister Pun collaborated with Energy Minister Shakti Bahadur Basnet and Nepal Electricity Authority Managing Director Kulman Ghising, alongside representatives from the World Bank and Asian Development Bank.

They affirmed the expedited financial management of the Upper Arun Project, recognized as a pivotal endeavor.

Minister Pun aims to highlight government reforms to foster an investment-friendly climate in Nepal and solicit increased support for Sustainable Development Goals, as well as reconstruction efforts post-earthquake.

The discussions will center on optimizing international assistance for policy reforms and identifying potential areas for further cooperation.