KATHMANDU, April 21: Finance Minister Barshaman Pun, who returned home from a US visit on Saturday, said that the US government, private sector and development partners are interested to work with Nepal more closely.

KATHMANDU, April 20: An agreement in principle has been reached for the financial management of the proposed 1063-megawatt Upper Arun Semi-Reservoir Hydropower project in Sankhuwasabha district.

Pessimistic View

April 6, 2024 07:16 am

Unsurprisingly, the World Bank has given a pessimistic prognosis of Pakistan’s moribund economy. On Tuesday, it said the country’s economic growth is expected to pick up — slightly — from the current fiscal year (after contracting 0.2pc last year) but would remain below 3pc for the next two years as “policy constraints to sustainable economic growth remain unaddressed”.

KATHMANDU, April 4: While the government has projected an economic growth rate of six percent for the current fiscal year, it is likely to achieve even half of the target.

KATHMANDU, April 3: The consumer price inflation in Nepal is expected to remain high at 6.7 percent in 2024, close to the central bank's 6.5 percent ceiling, due to VAT exemptions removal, India's food export restrictions, and increased paddy minimum support prices.

KATHMANDU, March 29: Global IME Bank Limited has signed an agreement with the International Finance Corporation (IFC), a member of the World Bank Group, to provide advisory services to Global IME Bank across various risk management areas.

KATHMANDU, March 1: The World Bank on Thursday approved loans worth US $200 million to Nepal to support the country’s transition toward Green, Resilient, and Inclusive Development (GRID) and help improve the development and maintenance of Nepal’s provincial and local road network.

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.

JHAPA, Jan 7: A 14-km blacktopped road will be constructed at Shahidmarga and Suryodayamarga in Mechinagar under the World Bank-supported 'Urban Governance and Infrastructure Project'.

KATHMANDU, Nov 3: The World Bank (WB) is providing financial assistance worth $103.84 million, aimed at strengthening the quality, coverage, and resilience of Nepal’s health system.

KATHMANDU, Oct 14: The World Bank (WB) has given a green signal to provide concessional loans of Rs 130 billion to construct the Upper Arun Hydroelectric Project.

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 6: The World Bank (WB) has estimated expansion of Nepal's economic growth in the coming fiscal year.

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.

BAGLUNG, Sept 18: Three roads in Baglung Municipality are to be asphalted with grant assistance from 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, Aug 1: The World Bank (WB) is to continue its assistance to Nepal for improving its health system.

KATHMANDU, June 12: The government and the World Bank jointly launched the project- 'accelerating Nepal’s regional transport and trade connectivity' (ACCESS) - of Rs 34.96 billion on Sunday.

KATHMANDU, June 10: World Bank's Vice-President for the South Asia Region, Martin Raiser, paid a courtesy call on Prime Minister Pushpa Kamal Dahal on Friday.

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, May 17: Bagmati Province is projected to achieve the least economic growth rate in the current fiscal year.

KATHMANDU, March 26: The World Bank is going to provide USD 120 million (about 16 billion NEPALI rupees) to Nepal.

KATHMANDU, Jan 21: Deputy Prime Minister and Minister for Finance, Bishnu Prasad Poudel has urged the World Bank (WB) to increase budgetary assistance.

KATHMANDU, Jan 12: The World Bank (WB) has projected the economic growth rate of Nepal to stand at 5.1 percent in this fiscal year, downsizing the value by one percentage point.

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.

KATHMANDU, Nov 12: Nepal has received 86 billion rupees foreign aid commitment in the last three months.

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.

KATHMANDU, Nov 1: The World Bank (WB) has projected that Nepal's economic growth rate will reach 5.8 percent in 2022.

KATHMANDU, OCT 31: Nepal has the lowest rate of nonperforming loans (NPLs) in its banking system among the South Asian countries, shows a World Bank (WB) report.

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.

Finance Minister Sharma in USA

October 12, 2022 14:21 pm

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 18: The World Bank (WB) has agreed to provide concessional loans of Rs 52.75 billion to Nepal.

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 5: The World Bank (WB) is funding USD 23 million to scale up direct support to the unemployed poor impacted by the COVID-19 pandemic.

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, April 15: The government has decided to take a loan of USD 150 million, equivalent to Rs 18 billion from the International Development Association (IDA) of the World Bank.

KATHMANDU, April 6: The World Bank has pledged to provide support to the government's efforts for promoting employment within the country.

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, Feb 25: The government has signed an agreement for a second additional concessional loan financing of Rs 2.14 billion ($18 million) with the World Bank (WB).

KATHMANDU, Feb 1: The government has decided to accept a concessional loan amounting to USD 150 million from the World Bank.

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.

KATHMANDU, Sept 15: The World Bank has decided to provide Rs 5.87 billion for the development of the education sector and to strengthen the health sector in Nepal.

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.