WB doubles assistance: Finance Minister

Kathmandu / Aug 11: Finance Minister Dr Yubaraj Khatiwada has shared that the World Bank has decided to double the development assistance it has been providing to Nepal. The assistance would be doubled for the implementation of the development projects under the government’s priority, he added.

Minister Khatiwada shared this information after returning from the US today. He had been there to seek a rise in assistance from the Bank. As he mentioned the assistance would be provided through the international development agencies under the WB.

During a press meet held upon his arrival from the US at Tribhuvan International Airport today, Dr Khatiwada reminded that he held meetings with the high-level officials of various institutes under the WB group in view of Nepal’s need to graduate itself from the least developed country to the status of the developing country by 2022.

Currently, some 2.70 billion US dollars is invested in various projects by the WB in Nepal.

“We’ve prepared entire programmes and plans for 2019 to 2023. The assistance would be doubled,” the Finance Minister said, quoting the WB group officials.

The international development institute would launch the assistance for five years as per the five-year country partnership framework for 2019 to 2023.

The three-day high-level meeting on Nepal assistance held in the US was attended by Nepali delegation led by Minister Khatiwada, Chief of Ministry’s Foreign Cooperation Coordination Division, Joint Secretary Shree Krishna Nepal, and Nepali Ambassador to the US Dr Arjun Kumar Karki.

Even the Nepal Day was marked at Nepali Embassy in the US, which was attended by the representatives of the WB groups and of the donor agencies based in the US. RSS