Government of Nepal and World Bank sign $ 150 million deal to support Nepal’s resilient recovery

0


The Government of Nepal and the World Bank today signed a $ 150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic, protect the most vulnerable and support sustainable growth.

The agreement was signed by Finance Secretary Sishir Kumar Dhungana on behalf of the Government of Nepal and World Bank Country Director for Maldives, Nepal and Sri Lanka Faris Hadad-Zervos.

“The project will help Nepal to rebuild better and more environmentally through reforms of the tax and customs systems, public investment management, environmental regulations and debt management,” said Sishir Kumar Dhungana, Secretary of Finance. . “The proposed budget support will be used in physical infrastructure projects and economic recovery sectors in accordance with the requirements and priorities of the Government of Nepal. “

The first one Fiscal policy for growth, recovery and resilience Development policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework and support for access to capital for businesses. It will help accelerate the major development projects underway to create jobs, accelerate markets and support green recovery. Funding will be provided to the Government of Nepal through budget support.

“This project will help the country achieve sustained growth during and after the COVID-19 pandemic that is inclusive, job-creating and environmentally sustainable,” said Faris Hadad-Zervos, World Bank Country Director for the Maldives, Nepal and Sri Lanka. “The World Bank is committed to supporting the government’s response to the pandemic to protect lives and boost economic recovery in Nepal. “

/ Public distribution. This material is from the original organization and may be ad hoc in nature, edited for clarity, style and length. View full here.


Leave A Reply

Your email address will not be published.