Category Archives: Economy

Bad weather, rugged terrain caused US chopper crash in Nepal: Army

Bad weather and rugged terrain of Himalayan region caused crash of a US military helicopter distributing aid to victims of earthquake in Nepal in May, according to the probe report. “Because of the terrain and bad weather the helicopter collided

IMF refuses debt relief for Nepal

International Monetary Fund (IMF) has refused debt relief for Nepal as it has not met all the criterion for the debt relief. IMF spokesperson Gerry Rice today said that Nepal will not receive debt relief from a special IMF trust

Health of quake survivors at risk without regular services: WHO

The World Health Organisation (WHO) showed serious concern on health of earthquake survivors. The health of people, who survived the devastating earthquakes could be at risk, if regular services were not rebuilt and restored on a priority and sought the

ADB releases immediate assistance of $200 million

Asian Development Bank (ADB) today announced an immediate assistance of $200 million for helping Nepal’s reconstruction process. It is a part of $600 million fund pledged by the development partner in the International Conference on Nepal’s Reconstruction-2015 (ICNR 2015). “ADB’s

Probe ponel reveals WFP supplied damaged rice

A parliamentary investigation concluded that rice supplied by the United Nations World Food Programme (WFP) – to earthquake victims in Larpak of Gorkha district – was substandard. The WFP officials had distributed substandard rice to the earthquake victims in Gorkha

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

WFP does it again, distributes rotten rice in Gorkha

The UN food agency does it again, this time in earthquake-worst hit district of Gorkha. It has distributed rotten rice to the locals putting their health at risk. The rice distributed to earthquake survivors by the World Food Programme (WFP)

Some 32 districts face food deficit

Two more districts have been added in the list of food deficit districts – thanks to drop in cereal output also due to devastating earthquake on April 25 that destroyed food – however the country will witness food surplus of

Yeti Airlines makes emergency landing after bird-hit

A Yeti Airlines aircraft had to make an emergency landing at Biratnagar today after a bird hit it. Despite the damage, the crew of the plane safely landed the plane back to the airport. The flight 792 Jetstream-41 had just

Capital spending not more than 50 per cent: Minister Mahat

The government finds it challenging to spend budget rather than resource management. There are some challenges in budget spending though resource management is not a tough job,” according to Finance Minister Dr Ram Sharan Mahat. Addressing a programme jointly organised

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

Cottage industries suffer loss of Rs 590 m loss due to earthquake

The cottage and small industries have suffered a loss of Rs 590 million due to devastating earthquake of April 25, and subsequent aftershocks. The cottage and small enterprises suffered a loss of Rs 590 million due to earthquake, according to

Earthquake pushes one million Nepalis down poverty line

The devastating earthquake of 7.8-magnitude on April 25 and susbquent aftershocks has pushed an estimated one million people below poverty line. Presenting the findings of the Post-Disaster Needs Assessment (PDNA) report here today National Planning Commission vice chair Dr Govinda

Country needs Rs 666 billion for reconstruction

The country needs more than the current fiscal year’s budget to reconstruct the damaged infrastructure by the devastating earthquake of 7.8-magnitude on April 25. The preliminary report of Post Disaster Needs Assessment (PDNA) has estimated some Rs 666.31 billion ($6,663.1

ADB joins US-led partnership to fight climate change in developing countries

The Asian Development Bank (ADB) today joined a global public-private partnership to provide the highest-quality scientific data and tools to help developing countries improve their climate change planning. “Asia is one of the world’s most vulnerable regions to climate change,”

Government forms probe committee to investigate chopper crash

The government today formed a probe committee to investigate into the Mountain Air helicopter crash. The chopper crashed at Yamuna Danda in Sindhupalchok yesterday afternoon, killing all four people, including its crew member and foreign national on board. The ministry

Korean parliamentarians donate Rs 13.2 million to Nepal

The Korean parliamentarians have donated Rs 13.2 million to Nepal for resettlement and reconstruction. National Assembly members of the Republic of Korea donated the money to Nepal for the resettlement of displaced by the recent earthquakes and reconstruction of the

Donors’ conference in Kathmandu on June 25

The government has decided to hold international donors’ conference in Kathmandu on June 25. The cabinet meeting today, apart from fixing the date, formed a committee led by finance minister Dr Ram Sharan Mahat to hold the national conference of