The CEO of the Multilateral Investment Guarantee Agency (MIGA) and two World Bank Group Vice Presidents will join development banks, ambassadors, and hundreds of investors from more than 30 countries at the Nepal Investment Summit on March 29 and 30. The Summit aims to help attract private financing for key infrastructure projects as Nepal undertakes new regulatory reforms.
The top three Bank officials are Keiko Honda, Executive Vice President and CEO of MIGA; Hartwig Schafer, Vice President of the World Bank’s South Asia region, and Hans Peter Lankes, Vice President, Economics and Private Sector Development, International Finance Corporation (IFC).
The three World Bank Group representatives will discuss the Bank’s support for Nepal with Rt. Hon. Prime Minister K P Sharma Oli of Nepal and Finance Minister Yuba Raj Khatiwada.
“Nepal has been a rising star in South Asia with foreign direct investment flows reaching a record high in 2017, and likely to remain an important investment destination in the region. This confirms Nepal’s efforts to improve its investment climate and become a competitive investment destination for multinational companies that want to have an impact,” said Honda.
Added IFC VP Lankes: “IFC has played a role in creating markets and supporting investments for 60 years. In Nepal, we are looking to scale up significantly our investments in strategic sectors such as hydropower, agribusiness, tourism, and financial inclusion. We are encouraged by the government’s efforts to improve the enabling environment and IFC plans to increase its cumulative investment portfolio to around $1 billion over the next four years.”
Original source: World Bank
Published on 28 March 2019