Tag Archives: World Bank

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

Development partners pledge more than half Nepal’s need

Development partners – including both multilateral and bilateral – today pledged $4.4 billion in aid that is almost two-third the Post Disaster Need Assessment (PDNA) estimation for the reconstruction of Nepal. According to preliminary estimation of PDNA, Nepal needs Rs

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 disburses $3.8 million to Probiotech to accelerate post-earthquake recovery, boost farmer incomes

IFC – a member of the World Bank Group – and Private Sector Window of the Global Agriculture and Food Security Programme have disbursed $3.8 million to Probiotech Industries, a commitment announced last year, reaffirming IFC’s and Nepali private sector’s

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

Relief aid flowing into Nepal, rebuilding could exceed Rs 1 trillion

The country needs around Rs 1 trillion to reconstruct the damaged infrastructure in the Saturday’s devastating 7.8-magnitude earthquake. The cost to rebuild Nepal after its most devastating earthquake, in eight decades, would exceed Rs 1 trillion ($10 billion) and take

Nepal slowly opening: World Bank

The World Bank senior official hailed Nepal’s progress in creating openness and transparency, apart from strengthening institutions. “Nepal has achieved considerable progress in recent years, despite a challenging environment,” World Bank Nepal country director Johannes Zutt said, during a Knowledge

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

Government set to allow ADB rupee bonds

The government is preparing to approve Asian Development Bank (ADB) local currency bond. The Cabinet is going to approve the ADB’s local currency bonds worth Rs 50 billion, said finance secretary Suman Sharma. The ADB had submitted a proposal –

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