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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">June 28: </span></span><span style="font-size:13.5pt"><span style="font-family:Helvetica"> The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the loan will be utilized to protect the most vulnerable, and support sustainable growth.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Finance Secretary Sishir Kumar Dhungana and the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos, signed the agreement to this effect, reads a statement issued by the World Bank.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Finance Secretary Sishir Kumar Dhungana and the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos, signed the agreement to this effect, reads a statement issued by the World Bank.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Finance Secretary Sishir Kumar Dhungana and the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos, signed the agreement to this effect, reads a statement issued by the World Bank.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“This project will help the country achieve sustained growth during and after the COVID-19 pandemic that is inclusive, job-creating and environmentally sustainable,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">stated Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to support the government’s pandemic response to protect lives and stimulate economic recovery in Nepal.”</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
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Photo Courtesy: World Bank Nepal
June 28: The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.
According to the World Bank, the loan will be utilized to protect the most vulnerable, and support sustainable growth.
Finance Secretary Sishir Kumar Dhungana and the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos, signed the agreement to this effect, reads a statement issued by the World Bank.
“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”
According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.
“This project will help the country achieve sustained growth during and after the COVID-19 pandemic that is inclusive, job-creating and environmentally sustainable,”stated Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to support the government’s pandemic response to protect lives and stimulate economic recovery in Nepal.”
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">June 28: </span></span><span style="font-size:13.5pt"><span style="font-family:Helvetica"> The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">June 28: </span></span><span style="font-size:13.5pt"><span style="font-family:Helvetica"> The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“This project will help the country achieve sustained growth during and after the COVID-19 pandemic that is inclusive, job-creating and environmentally sustainable,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">stated Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to support the government’s pandemic response to protect lives and stimulate economic recovery in Nepal.”</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p>
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