World Bank provides nearly Rs 20 billion

KATHMANDU: The International Development Association (IDA) of the World Bank has agreed to provide 207.26 million US dollars (equivalent to NRs 19,922 million) assistance to the government of Nepal for the implementation of three different projects.

Of the total assistance, 125 million US dollars will be provided as grant assistance and remaining 82.26 million US dollars as loan assistance.

The WB assistance will be used for the ongoing implementation of School Sector Reform (Rs. 9,612 million), Poverty Alleviation II (Rs. Rs.7, 690 million) and for Kali Gandaki A Hydropower Plant Project (Rs. 2,620 million).

Separate Memorandum of Understanding (MoU) to this effect was signed amidst a programme at the Finance Ministry today.

Finance Secretary Shantaraj Subedi and WB Country Manager for Nepal Tahaseen Sayed signed on the MoU on behalf of the respective sides.

Also on the occasion, Secretary Subedi expressed sincere appreciation to the WB for the assistances and for its continued assistance in the socio-economic development of Nepal.