KATHMANDU, Jan 10: The World Bank (WB) has predicted that the expansion of the Nepali economy will be satisfactory, compared to the average growth of the world economy. The WB has shown this while announcing the first forecast for the year 2024 about the world economy.
KATHMANDU, Oct 9: Finance Minister Dr Prakash Sharan Mahat has left for Marrakech, Morocco, to participate in the annual meeting of the World Bank, scheduled to take place from October 9 to 15 under the banner of 'Global Action, Global Impact.'
KATHMANDU, Oct 5: In its recent South Asia Development Update and Nepal Development Update, the World Bank (WB) has projected that Nepal's gross domestic product (GDP) growth rate will contract to 1.9 percent in 2023. However, there is optimism for the future, as the World Bank anticipates an upturn in economic growth next year, with a projected rate of 3.9 percent in 2024 and 5 percent in 2025.
KATHMANDU, Oct 3: The World Bank has projected Nepal's economic growth rate at 3.9 percent in 2024. In its latest semi-annual report titled 'Nepal Development Update: Restoring Export Competitiveness,' the World Bank predicts that Nepal's economy will experience a growth rate of 3.9 percent in the year 2024.
GALKOT (Baglung), Sept 19: Three roads in Baglung Municipality are to be asphalted with the grant assistance of the World Bank. The World Bank and the Municipality had signed a MoU for this project in 2020.
KATHMANDU, Sept 17: The Council of Ministers meeting held on September 15 decided to accept 6 million US dollars in concessional loan from the World Bank (WB) for the pre feasibility purpose of the Upper Arun Hydropower Project.
KATHMANDU, June 1: The government and the World Bank (WB) on Wednesday signed a financing agreement for $120 million concessional loan from the International Development Association and a grant agreement for $19.7 million from the Global Partnership for Education for the operation of the School Sector Transformation Program (SSTP).
KATHMANDU, Dec 25: A signature bridge is going to be constructed over the Narayani River. With the government preparing to upgrade the East-West highway as the 'Asian Highway', another two-lane bridge is going to be built over the river.
SHARM EL SHEIKH, Egypt, Nov 11: The World Bank is ready to step up financing of action to tackle climate change in the world's poorest countries, but needs fresh funds from wealthy donor countries to do so, its managing director of operations told Reuters.
WASHINGTON DC, Oct 14: Finance Minister Janardan Sharma has urged the World Bank to place Nepal on priority in its several initiatives such as conservation of the mountainous region, economic revival of rural areas and green corridor along river banks.
WASHINGTON DC, Oct 13: Finance Minister Janardan Sharma presided over the 53rd Governors' Session of the World Bank Group and the South East Asian Group of the International Monetary Fund on Wednesday.
WASHINGTON DC, Oct 12: Finance Minister Janardan Sharma arrived in Washington DC, the capital of the United States of America (USA) on Tuesday evening in connection with participating in the Annual Conference of the World Bank and the International Monetary Fund (IMF).
KATHMANDU, Sept 13: The government has approved Rs 35 billion (275 million USD) concessional loan to be provided by the World Bank. The loan would be spent on the transportation and trade connectivity promotion programme.
KATHMANDU, August 31: Experts have said that the concessional loan agreement signed between the World Bank and Nepal on Monday for the purpose of getting assistance to avoid and adapt to climate-related disasters is not in accordance with the international norms on climate finance and the stance that Nepal has been is taking at international forums. In the field of climate-sustainability and adaptation, their argument is that it is completely wrong to take a loan as the financial assistance given to an underdeveloped and at-risk country like Nepal should be in the form of grants.
KATHMANDU, August 29: Nepal and the World Bank (WB) on Monday signed a concessional financing agreement for US $100 million (Rs 12.7 billion) for the Green, Resilient, and Inclusive Development (GRID) project.
KATHMANDU, August 14: The government has decided to accept around Rs 12.7 billion ($100 million) development policy credit (DPC) provided by the World Bank to improve the enabling environment for Nepal's green, climate-resilient and inclusive development pathway.
KATHMANDU, June 19: Managing Director of the Development Policy and Partnerships, the World Bank (WB), Mari Elka Pangestu paid a courtesy call on Minister of Finance Janardan Sharma at the latter's office in Singha Durbar on Sunday.
KATHMANDU, May 4: The government on Wednesday signed an agreement with the World Bank (WB) to get a loan of USD 150 million to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in Nepal.
KATHMANDU, March 26: The World Bank is to provide Rs 18 billion under the Finance for Growth development policy credit to strengthen Nepal's financial sector for its green, resilient and inclusive development. The Bank's Board of Executive Directors took a decision to this effect on Thursday.
KATHMANDU, Oct 7: The World Bank (WB) has projected that the Nepali economy will grow by 3.9 percent in the current fiscal year, an improved average from 2020/21, with the country lifting containment measures as vaccination picks up and tourism and migrant worker flow recover.
WASHINGTON, June 30: The World Bank on Wednesday pledged to boost available funding for COVID-19 vaccine purchases and deployment to $20 billion from a previous target of $12 billion, citing a sharp increase in overall financing demand from developing countries.
KATHMANDU, June 17: The World Bank’s Board of Executive Directors today approved a $150 million (equivalent to Rs 17.55 billion) development policy credit to support Nepal’s resilient recovery from the COVID-19 pandemic, protect the most vulnerable, and support sustainable growth.
KATHMANDU, June 12: The World Bank (WB) on Friday approved US $ 60 million to improve the quality of Nepal’s higher education, scale up online learning, and expand access to academic institutions for underprivileged and vulnerable students.
KATHMANDU, June 9: The World Bank (WB) has pointed out that the slow process of vaccination has hit the economic recovery of countries like Nepal that are being hit hard by the second wave of COVID-19.