January 18: World Bank officials on Thursday held consultations with Members of Parliament of Nepal on development policy during a knowledge exchange program held in the capital. According to the World Bank, over 40 lawmakers of the federal parliament’s Finance Committee and the Parliament Secretariat took part in the program that shed light on the World Bank Group operations in Nepal, its instruments, country partnership framework and areas of development support.

Issuing a statement, the World Bank said its senior country economist, Kene Ezemenari, presented a synopsis of the bank’s analysis of latest macroeconomic and development updates

During the interaction, the World Banks country director for Bangladesh, Bhutan and Nepal, Qimiao Fan, said that the country’s path of nation-building and sustainable development relies on sound policies and institutions, and the Parliament is key in ensuring that these are both in place.

 “These engagements with the representatives of the people of Nepal are a key part of our role and responsibility as trusted partners in Nepal. They allow us to exchange ideas, and to better understand the vision of the Nepali people in reducing extreme poverty and boosting shared prosperity. It also allows us to share experiences on development narratives from the rest of the world,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal.

“The program was a great opportunity to understand the World Bank Group operations and explore avenues of cooperation and support in the days to come,” the statement quoted Krishna Prasad Dahal, chairperson of the parliamentary Finance Committee, as saying.

“Extensive sharing of data, information and practical knowledge will help pinpoint the direction of future policies and refine our responsibilities as lawmakers,” he added.  

 The World Bank said it is engaging Nepal’s Parliament in various ways. Through the Integrated Public Financial Management (PFM) Project supported by the multi-donor trust fund (financed by Australia, Switzerland, DFID, EU, Norway and USAID), the World Bank is currently supporting the Parliament of Nepal through strengthening of the PFM capacity of technical staff in the Secretariat.

“Knowledge exchange opportunities will be provided to MPs within this program. Provincial Parliaments will also be progressively targeted since they can benefit from the expertise of the federal Parliament to build their own.”