IFC appoints Rathnija Arandara as Resident Representative for Nepal

KATHMANDU, MAY 6:  The International Finance Corporation (IFC), a member of the World Bank Group, has appointed Rathnija Arandara as its new Resident Representative for Nepal. Based in Kathmandu, Arandara will spearhead efforts to expand IFC’s portfolio, cultivate new investment and advisory opportunities, and strengthen the organization's overall development impact in the country.

A Sri Lankan national, Arandara has been with the IFC since 2011, contributing significantly through various roles within the World Bank Group. Most recently, she served in IFC’s Country Advisory and Economics team for South Asia, focusing on financial inclusion, agribusiness development, and improving the investment climate across diverse sectors and geographies.

In her new role, Arandara will lead IFC’s business development initiatives in Nepal, advance upstream engagement, and build deeper partnerships with both public and private sector stakeholders to scale up investment and advisory services.

“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 World Bank Group’s broader strategy in Nepal, I look forward to working closely with our partners to support sustainable and inclusive growth.”

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

In the past five years, IFC has committed nearly US$700 million in Nepal, including mobilized investments across clean energy, private equity, and the financial and hospitality sectors. These investments have supported small and medium-sized enterprises (SMEs), accelerated the transition to green energy, and promoted financial and gender inclusion.

The fiscal year 2024 was said to be a landmark year for IFC in Nepal, with significant commitments across its three main sectors: Infrastructure, Manufacturing, Agribusiness and Services (MAS); and the Financial Institutions Group (FIG). Each sector initiated at least one transformative project, collectively amounting to US$84 million.