Activists and organizations have issued a joint statement on the 2023 annual meeting of the IMF and World Bank. They also gathered and held placards in front of the World Bank office to express their solidarity. They raise fundamental objections to the ongoing Grid Infrastructure Development (GRID) project, expressing deep reservations about its impact both […]
Concern raised regarding World Bank’s GRID Project Read Post »
Nepal’s economy faced challenges in the current fiscal year, but both the World Bank and the Asian Development Bank foresee a rebound in economic growth in the coming years, with varying projections for fiscal year 2024 (FY24) and beyond. The World Bank reported that Nepal’s GDP growth is expected to contract by 1.9 percent in
World Bank: Nepal to have an economic rebound Read Post »
The World Bank has announced a 93 billion US dollars replenishment package of the International Development Association to help low-income countries respond to the COVID-19 crisis and build a greener, more resilient, and inclusive future. The financing brings together contributions worth 23.5 billion USD from 48 high and middle-income countries with financing raised in the
World Bank unveils 93 billion USD support package to boost poorest countries Read Post »
After contracting for the first time in 40 years in Fiscal Year 2020, Nepal’s economy is projected to grow by 2.7 percent in Fiscal Year 2021, driven primarily by services as social distancing measures continue to be relaxed and vaccines rolled out for priority populations, according to a new report by World Bank. Agriculture is
A new report ‘Women, Business and the Law 2021’ by World Bank says that women are more likely to work in health care, unpaid care, and domestic work, making them more susceptible to the consequences of the COVID-19 pandemic. The report highlights that women still earn less than men for equally valued jobs, bear more
‘Women’s economic empowerment is critical to resilient recovery efforts’ Read Post »
The Government of Nepal and the World Bank signed a $80 million (around NPR 9.3 billion) million project on Monday with the aim to bolster the country’s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery. The Rural Enterprise and Economic Development Project (REED) project was signed
Economic growth is estimated to contract sharply to 2.1% in FY2021 from the COVID-19 pandemic and related lockdown, despite efforts by the government to curb the economic fallout from the crisis, states the World Bank’s latest Nepal Development Update. Transitioning the economy from the relief stage through to restructuring and resilient recovery requires a strategic
Nepal’s economy projected at tepid 2.1 percent in FY20/21 amid pandemic, says World Bank Read Post »
Nepal government with support from World Bank has launched the ‘Youth Employment Transformation Initiative’ project in the country. Minister of Labour, Employment and Social Security Rameshwor Raya Yadav and World Bank Country Director, Nepal, Faris Hadad-Zervos jointly inaugurated the project yesterday. Financed by the World Bank (WB) to promote domestic employment, the project will enable
Govt, World Bank launch $120m Youth Employment Transformation Initiative project Read Post »
The Government of Nepal and the World Bank Board signed a $100 million Development Policy Credit (DPC) yesterday to improve the financial viability and governance of the energy sector and recover from the COVID-19 crisis. The agreement was signed by the Finance Secretary, Sishir Kumar Dhungana on behalf of the Government of Nepal and the
Government gets $100 million credit from World Bank Read Post »
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