World Bank pledges support for employment generation and post-disaster reconstruction

KATHMANDU, OCTOBER 24 : The World Bank has pledged its support to Nepal for generating employment opportunities and post-disaster reconstruction. The WB officials made such a commitment yesterday during the visit of Deputy Prime Minister and Finance Minister Bishnu Poudel to Washington, DC, to attend the annual meetings of the World Bank Group (WBG) and International Monetary Fund (IMF).

During a meeting with Martin Raiser, World Bank’s vice president for the South Asia Region discussions focused on improving Nepal's business environment, implementing large-scale infrastructure projects, and creating jobs through remittance inflows. These measures aim to strengthen Nepal's economy by boosting employment prospects.

During the event, the Government of Nepal and the WB signed an agreement to support Nepal's post-disaster reconstruction efforts. Finance Secretary Ram Prasad Ghimire and David Sislen, the World Bank's representative for Nepal, signed the agreement in the presence of Deputy Prime Minister Poudel and WB Vice President Raiser.

Under this agreement, the World Bank will provide $150 million in assistance, which will be used to address health complications arising from natural disasters and climate change in Nepal.

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