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WB Approves Credit To Strengthen Nepal’s Financial Sector
52 sec to read
The World Bank has approved a US$ 30 million credit to help Nepal accelerate its financial sector reform program to reduce vulnerability of the banking sector and increase its transparency. 'The Government of Nepal’s medium-term program for the financial sector focuses on reforms designed to place the financial sector on a sound foundation for the future,' states a press statement by the bank. According to the bank, the Nepal Financial Sector Stability Credit will support six main policy areas: (i) formulation of a financial sector development strategy; (ii) restructuring of Nepal Bank Ltd and Rastriya Banijya Bank; (iii) assessment of the condition of Class A, B and C financial institutions and potential restructuring; (iv) strengthening institutional arrangements to support the bank restructuring process; (v) strengthening the legal and regulatory framework for effective bank resolution; and (vi) increasing the transparency of the financial system.
The credit carries a 0.75% service charge, a 10 year grace period and a maturity of 40 years.
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$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
