IFC appoints Rathnija Arandara as Resident Representative for Nepal

KATHMANDU: International Finance Corporation (IFC), a member of the World Bank Group, has appointed Rathnija Arandara as Resident Representative for Nepal. Based in Kathmandu, Arandara will lead efforts to expand IFC’s portfolio, develop new investment and advisory opportunities, and enhance the organisation’s impact across the country, the IFC press release stated on Tuesday.  

Arandara, a Sri Lankan national, has been part of IFC since 2011, bringing extensive experience from her work across the World Bank Group. Before this appointment, she played a key role in IFC's Country Advisory and Economics team in South Asia, focusing on financial inclusion, agribusiness development, and investment climate improvement across various regions and industries.  

In Nepal, Arandara will lead IFC’s business development initiatives, expand upstream engagement, and strengthen partnerships with key stakeholders to increase IFC’s investment and advisory activities for greater development impact.  

“Nepal possesses remarkable untapped potential, and IFC is committed to working with partners to realise 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 to achieve sustainable and inclusive growth,” she added.  

Before joining the World Bank Group, Arandara worked at PwC Indonesia and Oracle AG in Switzerland, specialising in mergers, acquisitions, and financial markets. In Sri Lanka, she served as an investment officer at the National Development Bank.  

Over the past five years, IFC has committed nearly US$700 million, including mobilisation efforts in clean energy, private equity, and the financial and hospitality sectors. These investments have been instrumental in supporting small and medium-sized enterprises (SMEs), advancing the green energy transition, and promoting financial and gender inclusion.  

The fiscal year 2024 marked a milestone for IFC in Nepal, with significant commitments across its three principal sectors: infrastructure, manufacturing, agribusiness and services, and the financial institutions group. Each sector has initiated at least one transformative project, collectively amounting to US$84 million.  

About IFC  

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Operating in more than 100 countries, IFC uses its capital, expertise, and influence to create markets and opportunities in developing economies. In fiscal year 2024, IFC committed a record US$56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilising private capital to create a world free of poverty on a livable planet.