Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The International Finance Corporation (IFC), a member of the World Bank Group, has appointed Rathnija Arandara as its new Resident Representative for Nepal, with a mandate to expand the organization’s investment and advisory footprint across the country.
According to a press release issued by IFC, Arandara, a Sri Lankan national, will be based in Kathmandu and lead efforts to scale up IFC’s operations, enhance engagement with key stakeholders, and increase the institution’s impact in critical sectors of Nepal’s economy.
“Nepal possesses remarkable untapped potential, and IFC is committed to working together with partners in the country to help realize its full potential in critical areas such as infrastructure, digital services, tourism, and financial sectors,” said Arandara. “Aligning with the overall strategy of the World Bank Group in Nepal, I look forward to working closely with our public and private sector partners towards achieving sustainable and inclusive growth,” she added.
Arandara has been a part of the IFC since 2011 and brings over a decade of experience from various roles within the World Bank Group. Prior to this appointment, she served in IFC’s Country Advisory and Economics team for South Asia, focusing on financial inclusion, agribusiness development, and investment climate reforms.
Her previous professional experience includes positions at PwC Indonesia and Oracle AG in Switzerland, specializing in mergers, acquisitions, and financial markets. In Sri Lanka, she served as an investment officer at the National Development Bank.
In her new role in Nepal, Arandara will focus on driving business development, expanding upstream engagements, and strengthening collaborations with government and private sector entities to support Nepal’s development goals.
Over the past five years, IFC has committed close to US\$700 million in Nepal, including mobilization efforts in clean energy, private equity, and financial and hospitality sectors. These investments have significantly contributed to supporting small and medium-sized enterprises (SMEs), accelerating green energy transition, and promoting both financial and gender inclusion.
In fiscal year 2024 alone, IFC made significant commitments across its three key sectors: Infrastructure; Manufacturing, Agribusiness and Services; and the Financial Institutions Group. Each of these sectors launched at least one transformative project, collectively amounting to US\$84 million, the IFC stated.
Arandara’s appointment signals IFC’s strategic intent to deepen its development impact in Nepal amid growing demands for infrastructure development, digital innovation, and private sector-led growth.
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