Patna: The Global Bihar Summit, 2012, which is scheduled to explore and discuss new strategies for the state's development, will be inaugurated here on February 17 by Nepal Prime Minister Baburam Bhattarai.

Bhattarai, who is scheduled to arrive here on February 17, will lead a 17-member delegation of his country for the three-day summit, Bihar Deputy Chief Minister S K Modi told reporters on Wednesday.

About 1,000 delegates from India and abroad are expected to participate in the summit.

Planning Commission Deputy Chairman Montek Singh Ahluwalia, RBI Governor D Subba Rao, British economist Nicholas Stern, Lord Meghnad Desai, industrialist Kumar Manglam Birla, lyricist Javed Akhtar and film maker Prakash Jha would be among the participants, Modi said.

He said objective of the summit is to explore the potential areas Bihar's progress.

The summit is be jointly organised by Bihar Foundation, Institute for Human Development and Asian Development Research Institute.