IDA-21 meet decided to continue support for countries committed to ending poverty: Minister Pun

KATHMANDU: Finance Minister Barsha Man Pun concluded the third replenishment meeting of the International Development Association (IDA-21), the World Bank's fund for low-income countries, in Kathmandu, on Friday.

Minister Pun wrapped up IDA-21, which lasted for four days at Hotel Soaltee, starting from June 18. Prime Minister Pushpa Kamal Dahal had inaugurated the meeting on Tuesday.

Meanwhile, Minister Pun stated that it is a significant opportunity for Nepal to host a special meeting with the participation of development partners, donors, and managers dedicated to addressing global development challenges.

The finance minister highlighted that the World Bank's third replenishment meeting of IDA represents an achievement for the IDA countries that have been striving to eradicate poverty and achieve sustainable development for decades. Minister Pun expressed gratitude to the World Bank and stakeholders for committing to continue the ongoing campaign to end poverty and underdevelopment worldwide. "I would like to express my gratitude for the collective decision of the IDA-21 meeting to continue support and assistance for countries committed to ending poverty and achieving sustainable development," Minister Pun said and added, "IDA has ensured that strong development assistance and international support will be provided for underdeveloped countries in the future."

Pun emphasised that the conclusions and strategies of IDA-21 will bring happiness to IDA countries and those receiving development finance from the World Bank and other development partners. He expressed his hope that the decisions made by IDA would effectively elevate IDA countries from the state of poor economic development and poverty, making them more livable. He pointed out that many IDA countries face challenges such as poverty, inequality, food security, resource limitations, and debt repayment pressure due to economic challenges. He stressed the need for external support and investment to address these issues. "Given these challenges, development assistance and international cooperation are essential," he said. 

Minister Pun also highlighted the importance of access to electricity, quality health, education, and nutritious food for the people of IDA countries. He called for collective efforts and commitment in addressing agendas such as climate change, gender inequality, and poverty alleviation."

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