Conclusion of IDA Kathmandu meeting: Historic economic package is necessary for poor countries

The meeting prepared a three-year strategy blueprint for the IDA countries. In the technical session (closed session) that lasted for three days in the meeting, there was an in-depth discussion regarding the financial scenario of the IDA countries.

In the closing session, there was an in-depth discussion between donors, representatives of recipient countries and high-ranking officials of the World Bank regarding the priority areas of subsidized loans and grants for poor and low-income countries for the next three years and their strategic framework, as well as expressing the commitment of necessary financial resources. was done. The

meeting concluded that a historically large financial package is necessary to address the challenges in the world economy and the development aspirations of the IDA countries.

Mr. Krishna Nepal, the coordinator of the management and coordination committee under the secretary organizing committee formed by the Ministry of Finance and the head of the international financial aid coordination division of the ministry said that the achievements of the meeting will be historic for poor and less developed countries. "The first IDA worked on an input-based strategy," he said, "now there has been a theoretical agreement to make the results output-based." The

meeting has decided an initial strategy to create an environment of opportunity and access to electricity and information technology for the people of IDA countries. He informed that IDA has put forward a strategy to emphasize quality improvement in education and health, which were previously on the list of creating opportunities.

IDA will make more programs and strategies to end gender discrimination and include women in empowerment while emphasizing on the policy of inclusive development. IDA's decision is to increase the participation of women in the development and decision-making process at the educational and economic levels to include women in empowerment. The World Bank meeting in October will further discuss the results of IDA, and the final meeting of IDA 21 in South Korea on December 25 and 26 (December 10-11) will make a formal decision to implement the three-year strategy.

Prime Minister Pushpa Kamal Dahal inaugurated the four-day IDA meeting in Kathmandu on Tuesday. The meeting was concluded by Finance Minister Varshman Pun. It is said that this meeting is the largest program organized by the World Bank Group in Nepal so far. More than half a dozen vice presidents and directors came to Nepal to participate in the meeting, including Axel Van Trotson, senior managing director of the World Bank. Similarly, more than 200 representatives from 61 countries participated in the meeting.

For the management of the meeting, the Ministry of Finance formed an organizing committee under the leadership of Secretary Madhukumar Marasini and a management and coordination committee under the coordination of the Ministry's International Financial Assistance Coordination Division, Deputy Secretary Shri Krishna Nepal.

IDA, established by the World Bank in 1960, is the leading body of the International Alliance of Development Partners. It has been providing concessional loans, grants and multilateral aid for poor countries that are lagging behind in development and have low incomes.