World Bank approves $100 million to support Nepal’s sustainable development

Kathmandu / Dec. 13: The World Bank’s Board of Executive Directors on Thursday approved a $100 million development policy operation (DPO) to help Nepal enhance its ongoing efforts to implement green, resilient, and inclusive development.

The World Bank said in a statement that this is the second in a programmatic series of three DPOs designed to strengthen the enabling environment for Nepal’s sustainability pathway.

“This programmatic DPO series is a catalyst for Nepal to build greater resilience and sustainability and drive and protect the basis for long-term growth for all Nepalis,” said David Sislen, World Bank regional country director for Maldives, Nepal, and Sri Lanka. “This operation supports Nepal’s policy programme in a variety of sectors, including green fiscal instruments, water security, irrigation, land use and management, sustainable forest management, and climate and disaster information systems.”

Since 2021, the government has undertaken an ambitious programme of action focusing on environmental sustainability, resilience, and inclusive development.

This approach, according to the statement, addresses intertwined challenges such as joblessness, pandemics, expanding economic opportunities for vulnerable groups, and climate and other environmental risks affecting Nepal’s people, prosperity, and environment.

“The World Bank DPO series anchors Nepal’s ongoing shift to a more sustainable development path. Nepal’s policies supported by the DPO series arose from stakeholder dialogues and the nation’s own development priority programmes and plans,” the statement reads.

It says that these policies aim to improve air quality, expand hydro-meteorological services for better disaster risk reduction, improve water security by boosting year-round irrigation and safe water supply, strengthen community forest management, and enhance land use planning.

“Nepal continues to put in place a strong policy programme that recognises that resilience is best achieved when sustainability and inclusion are also pursued in an integrated way,” said Stephen Danyo, World Bank programme leader for Maldives, Nepal, and Sri Lanka and task team leader for the operation.