World Bank announces increased budgetary aid for Nepal

KATHMANDU: The World Bank has revealed plans to augment its budgetary assistance to Nepal. 

During a virtual meeting held today, Martin Raiser, the World Bank's Vice President for the South Asia Region, conveyed this important update to Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel.

Raiser highlighted the need for improvements in key areas, including the investment environment, economic reforms, and employment growth. Notably, Nepal received $205 million in budgetary aid from the World Bank during the last fiscal year.

In response, Finance Minister Paudel expressed optimism, citing the stability of the current government as a conducive factor for increased investment. He pledged collaborative efforts to ensure timely project completion.

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