newsdog Facebook

World Bank to provide USD 195 mn to Nepal for financial, energy sector reform

Fadu News 2018-10-11 22:35:29

The World Bank has announced that it will provide around USD 195 million concessional loan to Nepal to reform the country's financial and energy sectors.

An agreement to this effect was reached during the ongoing annual meeting of the World Bank and International Monetary Fund (IMF) at Bali in Indonesia, according to officials.

Chief of International Economic Cooperation Coordination Division (IECCD) at the Ministry of Finance, Krishna Nepal and the World Bank's Country Director for Nepal, Qimiao Fan inked the agreement on Wednesday in the presence of Finance Minister Yubaraj Khatiwada and Vice-Chairperson of the World Bank for South Asian region, Hartwig Schafer.

Finance Minister Khatiwada lauded the World Bank for lending support in various sectors of Nepal including infrastructure development, education, health and tourism development.