Friday 30th July 2021

World Bank extends monetary support to Nepal’s pandemic fight

The international bank will be lending USD 150 million to the Asian country
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World Bank extends monetary support to Nepal’s pandemic fight

The Executive Directors of the World Bank have decided to lend NPR 17.55 billion development policy credit to Nepal as the Himalayan country continues to battle the virus. The credit is also aimed at protecting the most vulnerable sectors of Nepal.

“Amid the economic and social impacts of the pandemic, our priority is to provide immediate relief to the affected populations and support Nepal’s green, resilient, and inclusive recovery,” stated Faris Hadad-Zervos, World Bank Country Director for the Maldives, Nepal, and Sri Lanka.

Titled ‘The Nepal Programmatic Fiscal Policy for Growth, Recovery and Resilience’, the program aims to boost the institutions and revenue streams of Nepal.

 

It shall prop the health response of the country and help the social protection programs by easing access to digital solutions. It will propel the nation’s green recovery.

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