World Bank to provide USD 195 million to Nepal for financial, energy sector reform

Finance Minister Khatiwada lauded the World Bank for lending support in various sectors of Nepal including infrastructure development, education, health and tourism development.

Published: 11th October 2018 08:26 PM  |   Last Updated: 11th October 2018 08:26 PM   |  A+A-

The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington. (Photo | Reuters)

By PTI

KATHMANDU: The World Bank has announced that it will provide around USD 195 million concessional loan to Nepal to reform the country's financial and energy sectors.

An agreement to this effect was reached during the ongoing annual meeting of the World Bank and International Monetary Fund (IMF) at Bali in Indonesia, according to officials.

Chief of International Economic Cooperation Coordination Division (IECCD) at the Ministry of Finance, Krishna Nepal and the World Bank's Country Director for Nepal, Qimiao Fan inked the agreement on Wednesday in the presence of Finance Minister Yubaraj Khatiwada and Vice-Chairperson of the World Bank for South Asian region, Hartwig Schafer.

Finance Minister Khatiwada lauded the World Bank for lending support in various sectors of Nepal including infrastructure development, education, health and tourism development.

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  • aaryan

    Please don't donate any money to Nepal.It like giving that money straight into the politicians' pockets.There will be no development but only politicians will be rich and more greedy. Nepal hasn't even fully utilized the funds of the earthquake after 3 years.
    7 days ago reply
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