Industrial Trade Fair Concludes

The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers. The fair was jointly organised by the Federation of Nepal Cottage and Small Industry (FNCSI) and the Alternative Energy Promotion Centre (AEPC). There were 312 stalls at the fair, including 125 stalls related to renewable energy, 32 stalls of women entrepreneurs, 12 stalls of sustainable energy, 25 stalls of micro industries and eight stalls showcasing leather products. Local products like green tea, organic coffee, honey and wine were largest selling items at the fair, the organizers said. Likewise, handicrafts and renewable and alternative energy products also attracted crowds, according t them. 

 

WB Grant for Pro-poor Project

The World Bank has agreed to provide a grant assistance of USD 2.75 million (approximately NRs 274 million) for the implementation of the Pro-poor Urban Regeneration Pilot Project under the Japan Social Development Fund, according to a press release issued by the Ministry of Finance. An agreement to this effect was signed on February 10. The objectives of the Project are to contribute to improving the living conditions of poor and vulnerable households in selected wards of the historic core of Lalitpur City by piloting urban regeneration activities; and demonstrate the feasibility of an integrated urban regeneration approach to decision-makers in the Kathmandu Valley. The project consists of four parts: (i) Participatory Action Plan for Pro-poor Urban Regeneration, (ii) Grant Facility for Pro-poor Urban Regeneration/Sub-grants; (iii) Community Awareness and Local Capacity Building for Pro-poor Urban Regeneration; and (iv) Project Management and Administration, Participatory Monitoring and Evaluation and Knowledge Dissemination. The Ministry of Urban Development will be implementing the project which will end in September 2017.

 

‘Job creation critical for economic progress in Nepal’

The number of young people of working age in Nepal is currently increasing by 550,000 a year, and by 2020 it will climb to 633,000 a year, a new UNCTAD publication reports. The organization recommends that the new government should rethink its growth strategy to ensure that growth creates employment opportunities for the young people – who are currently largely under-employed, or trapped in vulnerable, low-paid jobs – to improve the growth prospects of the economy. The Least Developed Countries Report 2013, subtitled Growth with Employment for Inclusive and Sustainable Development, urges that Nepal should put greater policy emphasis on employment generation as a central development objective. It cautions that otherwise, international migration or social and political instability may rise.

 

Asha Award: 40 Semifinalists Shortlisted

Forty semifinalists have been selected for the second edition of Surya Nepal Asha Social Entrepreneurship Award. A total of 119 social entrepreneurs from 40 districts had applied for the award, according to a press release by Change Fusion Nepal, the organizer of the award. The semifinalists, who have made commendable contribution to social entrepreneurship, have been selected from 17 districts ranging from Panchthar to Dhankuta and Kailali to Bardiya. The semifinalists have contributed to social entrepreneurship through various sectors including health, agriculture, agro products, education, physical handicap, and human trafficking. The award will be given away on March 28 after a seven-member jury and a three-member advisory committee select the finalists from the 40 semifinalists.