Kathmandu. The International Finance Corporation (IFC), a member of the World Bank Group, has appointed a new Resident Representative for Nepal. IFC has appointed Sri Lankan-born Arandara as its new Resident Representative for Nepal.
Based in Kathmandu, she will play a role in scaling up IFC’s investments in Nepal, creating new investment opportunities, and enhancing institutional effectiveness.
Arandara has been working at IFC since 2011. She worked as an economic advisor in South Africa on financial inclusion, investment in agriculture, and investment climate.
She will be responsible for enhancing IFC’s development efforts in Nepal, building the investment climate in Nepal, and improving investment returns.
“There is a vast untapped opportunity in Nepal, and IFC is committed to working with stakeholders in high-potential sectors such as infrastructure, digital services, tourism, and finance,” Arandra said.
She is committed to working for Nepal’s sustainable and inclusive development. “I will work with Nepal’s public and private sectors to achieve sustainable and inclusive growth, in line with the World Bank’s stated objectives in Nepal,” she added.
Before joining the World Bank, Arandra worked in mergers and acquisitions finance at PwC Indonesia and Oracle AG Switzerland. She worked as an investment officer at the National Development Bank of Sri Lanka.
Over the past five years, IFC has committed $700 million in investments, focused on clean energy, private equity, finance, and tourism.
These investments are targeted at small and medium-sized enterprises, the green energy transition, and promoting financial and gender inclusion. In fiscal year 2024, IFC achieved significant achievements in the infrastructure, manufacturing, agribusiness and services, and financial institutions groups. At least one transformative project has been put forward in each of these areas, worth at least $84 million.
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