Lal Shanker Ghimire, joint-secretary of the Ministry of Finance and Andras Horvai, World Bank Acting Country Manager for Nepal, inked the pact, says a press statement.[break]
The assistance package includes $65 million in grant from the International Development Association (IDA) and $10 million in grant co-financing from the Global Food Price Response Program - a multi-donor trust fund. [break]
The PAF has been supporting over 14,500 Community Organizations (COs) for the benefits of nearly 530,000 households in 40 poorest districts.
“The PAF has helped improve living conditions, livelihoods and empowerment among the rural poor, particularly those who are disadvantaged due to gender, caste, ethnicity or physical isolation,” said Ellen Goldstein, the World Bank Country Director for Nepal and Bangladesh. “About 2.65 million Nepalis, or close to a tenth of the population, are directly benefiting from the program.”
The statement further says average incomes for households in areas supported by PAF have increased over 80 percent in real terms, adjusted for inflation.
A total of 383 investments in new and rehabilitated irrigations systems are expected to be finalized by next year, which will benefit close to 4,400 additional households.
“Nearly 3,800 community organizations are investing in vegetable farming, thereby increasing availability and quality of food in these communities and providing a valuable source of income,” the statement reads.
An independent impact evaluation shows that the overall welfare of PAF assisted households has improved by 13-49 percent, depending on how recently they have been assisted by PAF.
Goldstein said the additional financing for PAF will continue to strengthen this impact in more communities and more districts.
“The program will focus more support on improving food security in response to drought and price fluctuations, particularly for the most food insecure households who are most vulnerable to the spiraling cost of food,” Goldstein added.
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