Nepal's Finance Minister Swarnim Wagle heads to Doha AIIB summit seeking flood recovery funds

Nepal’s Finance Minister Swarnim Wagle departed for Doha, Qatar, to take part in the Asian Infrastructure Investment Bank’s 11th annual Board of Governors meeting on September 28-29. The gathering will see Nepal assume the AIIB’s vice-chair role, giving Wagle a platform to highlight the country’s vulnerability to climate-induced disasters and to request international support for rebuilding after the late-August Bhotekoshi-Trishuli floods, whose reconstruction costs are projected at roughly $5 billion over the next three to five years.

In addition to discussions with counterparts from India, China, Bangladesh and the Maldives, he will lobby the AIIB chairman for financing of projects like new transmission lines and an upgrade of the Siddhartha Highway. Wagle has already met Indian officials in New Delhi to explore bilateral assistance. He intends to complement multilateral appeals with talks with the World Bank, Asian Development Bank and other donors, and will later attend IMF and World Bank meetings in Bangkok.