Finance Minister Swarnim Wagle is scheduled to travel to Bangkok on Tuesday to attend the annual meetings of the International Monetary Fund (IMF) and World Bank Group, as Nepal seeks international support for rebuilding after the August 26 floods.
Wagle is due to leave Kathmandu today at 1:30 p.m. Nepal time. He is expected to hold more than 16 bilateral and multilateral meetings and return on October 19. The delegation includes Finance Secretary Ghanashyam Upadhyaya, Joint Secretary Amrit Lamsal and other ministry officials.
The Annual Meetings run from OCtober 12 to 18 at Bangkok's Queen Sikrit National Convention Center. They bring together finance ministers, central bank officials, development institutions and other policymakers to discuss the global economy, financial stability and development financing
Nepal is expected to focus on reconstruction of roads, bridges, hydropower facilities and other infrastructure damaged by the floods. Wagle has previously said reconstruction could require several billion US dollars.
The Bangkok trip follows his recent visits to Doha and the United States. In Washington, Wagle met World Bank Group President Ajay Banga and discussed rebuilding flood-damaged infrastructure, economic reforms and mobilizing around US$1 billion for insurance and social protection programs, according to the FInance Minister's secretariat. World Bank leadership expressed support for reconstruction.
Nepal also wants wider recognition of the economic and humanitarian costs of climate-related disasters in vulnerable mountain countries. Wagle has said Nepal will use international forums to explain the scale of the disaster and seek greater support and solidarity.
On Thursday, October 15, Wagle is scheduled to take part in a discussion hosted by the Foreign Correspondents' Club of Thailand, titled "Rebuilding After a Himalayan Catastrophe: A Talk with Nepal's Finance Minister." It begins at 7 p.m. Bangkok time, or 5:45 p.m. in Nepal. and is expected to cover the disaster, reconstruction needs, climate risks and the economic outlook. The event is a public discussion.
