Tag Archives: WB

Nepal signs framework agreement of China-led AIIB

Nepal has become the founding member of Asian Infrastructure Investment Bank. Nepal, alongwith 50 countries across Asia, Australia, Europe and South America, signed article of agreement of the Asian Infrastructure Investment Bank in Beijing today. Though, some 57 governments have expressed

Asian Infrastructure Investment Bank to born tomorrow

One of China’s biggest ever foreign policy successes will take concrete shape tomorrow when delegates from 57 countries including Nepal sign an agreement on Asian Infrastructure Investment Bank (AIIB) in Beijing. It will create a legal framework for the existence

Donor conference to chalk out plan for reconstruction

The devastating earthquake of 7.8-magnitude that shook the country on April 25, and the numerous aftershocks that followed, left the country with losses amounting to a third of the total economy. With the National Planning Commission prepared Post-Disaster Needs Assesment

NZ aid organisations call on to push for debt cancellation for Nepal

Humanitarian aid organisations are calling on the New Zealand government to advocate for the immediate and unconditional cancellation of Nepal’s foreign debt after devastating earthquake on April 25 and May 12 and subsequent aftershocks. NGO Disaster Relief Form chair Ian

South Asia receives largest chunk of climate finance

South Asia received the largest share of climate finance from the multilateral development banks last year, according to a report. Among the regions, South Asia received the largest share of total funding, at 21 per cent. Latin America and the

IFC, FMO join hands to invest in Nepal hospitality

IFC – a member of the World Bank Group – will invest $3million in Nepal Hospitality and Hotel (NHH) to develop a three-star hotel in Thamel, Kathmandu. The investment will increase the country’s capacity in the mid-market hotel segment, create

ADB hosts Partnership Forum for Nepal, Mahat presents bleak economic picture

The Asian Development Bank (ADB) hosted a Partnership Forum for Nepal today during its 48th annual meeting to affirm international support for the country, following the devastating April 25 earthquake. At the meeting – jointly chaired by ADB president Takehiko

Corporate Governance seminar on card

National Banking Institute (NBI) – earlier National Banking Training Institute (NBTI) – in association with IFC of World Bank Group and with support from Asian Development Bank (ADB) is conducting annual conference ‘Corporate Governance:  Where have we failed’ on September

Number of World Bank-funded problematic projects double in a year

The number of World Bank-funded problem projects has doubled in a year. Some 10 projects, out of 18 under operation in the current fiscal year, are either risky or potentially risky, according to the World Bank. However, there were only

Cabinet approves ADB local currency bond

The government today approved Asian Development Bank’s (ADB) Nepali rupee bonds worth up to Rs 50 billion to raise funds from the domestic market to finance various development projects including eight hydropower projects. A Cabinet meeting’s decision today has made

IFC, GAFSP to invest $3.8m in Probiotech

Private sector lending arm of World Bank Group International Finance Corporation (IFC) and private sector window of Global Agriculture and Food Security Programme (GAFSP) are investing $3.8 million in Probiotech Industries to enhance poultry farm productivity and boost incomes in

Kamata WB’s country manager for Nepal

Takuya Kamata has been appointed World Bank’s country manager for Nepal. Kamata, a Japanese national, joined the World Bank in 1990, said the World Bank. He has since held various positions in the infrastructure sector, country and corporate units in

Nepal receives Rs 1.48 billion remittance per day

Nepal received an average of Rs 1.49 billion in remittance income on a daily basis in the last fiscal year 2013-14. The country received Rs 543.29 billion remittance in the last fiscal year 2013-14, according to the current macroeconomic situation

Spread rate of commercial banks comes down to 6.8 per cent

The average spread rate of the commercial banks came down to 6.62 per cent in the first nine months of the current fiscal year, according to central bank data. The central bank had earlier directed the commercial banks to bring

Some 291 firms to get agri-grant

Agricultural Commercialisation and Trade Project (PACT) has selected some 291 projects to provide its grant aimed at enabling farmers and agribusiness groups to engage in profitable market-oriented production. According to PACT, among the 1,400 proposals, it has selected some 291

Per capita income Rs 71‚305; GDP growth 5.12 per cent

Though the average economic growth rate has not crossed four per cent in the last one decade, per capita income of a Nepali has been continuously increasing. Average income of a Nepali is expected to grow by 13.77 per cent

Foreign aid absorption capacity low: Development partners

The country has not been able to increase its foreign aid absorption capacity in the last fiscal year too as it has been rated ‘moderately satisfactory’ in foreign aid effectiveness. As Nepal lost its aid absorption capacity also due to

World Bank assures increased investment in Nepal

The World Bank has assured Nepal increased assistance to help the country graduate to a developing country by 2022. While returning from two-week long US and Mexico visit – to take part in the World Bank’s programmes – today finance