World Bank approves $100m for Nepal's green development

WASHINGTON: The World Bank’s Board of Executive Directors on Thursday approved $100 million development policy operation (DPO) to support Nepal in strengthening its efforts towards green, resilient, and inclusive development. This is the second in a series of three DPOs aimed at enhancing Nepal's sustainability pathway.

“This programmatic DPO series is a catalyst for Nepal to build greater resilience and sustainability, and drive and protect the basis for long-term growth for all Nepalis,” said David Sislen, World Bank Regional Country Director for Maldives, Nepal, and Sri Lanka. “This operation supports Nepal’s policy programme across various sectors, including green fiscal instruments, water security, irrigation, land use and management, sustainable forest management, and climate and disaster information systems.”

Since 2021, the Government of Nepal has embarked on an ambitious programme of action focused on environmental sustainability, resilience, and inclusive development. This approach recognises the need for a development model addressing the intertwined challenges of joblessness, pandemics, expanding economic opportunities for vulnerable groups, and climate and environmental risks affecting Nepal’s people, prosperity, and environment.

The World Bank DPO series anchors Nepal’s shift towards a more sustainable development path. Nepal’s policies supported by the DPO series stem from stakeholder dialogues and the country's development priority programmes and plans. These policies aim to improve air quality, expand hydro-meteorological services for better disaster risk reduction, enhance water security by boosting year-round irrigation and safe water supply, strengthen community forest management, and improve land use planning.

“Nepal continues to put in place a strong policy program that recognises that resilience is best achieved when sustainability and inclusion are also pursued in an integrated way,” said Stephen Danyo, World Bank Programme Leader for Maldives, Nepal, and Sri Lanka and Task Team Leader for the operation. “This is at the heart of Nepal’s approach to sustainability, resilience, and inclusion.”

Nepal’s policy programme is poised to attract and expand investment in key sectors essential for jobs, livelihoods, health, and resilience for millions of citizens. The DPO series supports Nepal in generating durable development impacts as part of the solutions to the abovementioned challenges.

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