World Bank pledges $150m for post-disaster reconstruction in Nepal

WASHINGTON DC: Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel, currently in Washington DC to attend the annual meetings of the World Bank Group and the International Monetary Fund (IMF), held a meeting with the World Bank's Vice President for South Asia Region, Martin Raiser. 

According to the Nepali Embassy in the USA, the discussion focused on generating employment opportunities in Nepal. They discussed improving the business environment, implementing mega infrastructure projects, and generating employment opportunities in Nepal through remittance inflow.

Meanwhile, the World Bank Group has agreed to extend support to Nepal for post-disaster reconstruction. 

The agreement regarding this was signed by the Government of Nepal and the World Bank. Finance Secretary Ram Prasad Ghimire and World Bank Country Director for Nepal, Maldives, and Sri Lanka, David Sislen, signed the agreement. As per the agreement, the World Bank will provide Nepal with $150 million in assistance. It was stated at the signing ceremony that the funds would be mobilised to address health complications stemming from natural disasters and climate change in Nepal. 

The agreement was signed in the presence of DPM and Finance Minister Paudel and World Bank's Vice President for South Asia Region, Martin Raiser.

By RSS