Nepal and World Bank Sign $150 million agreement to support Nepal’s Resilient Recovery

June 28, Kathmandu: The Government of Nepal (GoN) and the World Bank (WB) have signed a $150 million (equivalent to NRs. 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the Covid-19 pandemic.

The agreement was signed by Finance Secretary Sishir Kumar Dhungana on behalf of the GoN and the WB Country Director for Nepal Faris Hadad-Zervos amidst a programme at the Ministry of Finance on Sunday.

The loan amount will be utilized to protect the most vulnerable, and support the sustainable growth of the country, according to the Spokesperson at the Finance Ministry

On the occasion, Finance Secretary Sishir Kumar Dhungana expressed happiness that the loan would help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management.