{"id":15163,"date":"2022-08-29T17:08:52","date_gmt":"2022-08-29T11:23:52","guid":{"rendered":"https:\/\/english.kathmandupati.com\/?p=15163"},"modified":"2022-08-29T17:08:52","modified_gmt":"2022-08-29T11:23:52","slug":"nepal-wb-sign-rs-12-7-billion-financing-agreement-to-support-grid","status":"publish","type":"post","link":"https:\/\/english.kathmandupati.com\/?p=15163","title":{"rendered":"Nepal, WB sign Rs 12.7 billion Financing Agreement to Support GRID"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>KATHMANDU &#8211;<\/strong> The Government and the World Bank (WB) today signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID).<\/p>\n<p style=\"text-align: justify;\">The proposed budgetary support aims to support improvements in the enabling environment in Nepal toward a green, climate-resilient, and inclusive development. This is the first in a programmatic series of three concessional loans on GRID.<\/p>\n<p style=\"text-align: justify;\">The agreement was signed by Mr Ishwori Prasad Aryal, Joint Secretary, International Economic Cooperation Coordination Division, Ministry of Finance, on behalf of the Government of Nepal, and Ms Lada Strelkova, World Bank Operations Manager for Maldives, Nepal, and Sri Lanka, the World Bank said in a press release today.<\/p>\n<p style=\"text-align: justify;\">\u201cIn the wake of the COVID-19 pandemic, the Government of Nepal, World Bank and development partners signed the critical Kathmandu Declaration pivoting our programs in Nepal to support the country\u2019s goals of a greener, more inclusive, and more resilient development,\u201d said Strelkova.<\/p>\n<p style=\"text-align: justify;\">\u201cThis operation is a key part of this commitment. Through this operation, we are supporting the Government\u2019s key policy actions across sectors including water, land use, climate-smart agriculture, sustainable forest management, urban, waste, and pollution.\u201d<\/p>\n<p style=\"text-align: justify;\">This first operation supports policy actions for strategic GRID transitions such as the sustainable and productive use of natural capital; resilience of urban and rural infrastructure, human capital, and livelihoods to climate and environmental risks; and more efficient and cleaner production, consumption, and mobility. It also supports policy actions of Government of Nepal for strategic GRID transitions that help build and maintain prosperity for all.<\/p>\n<p style=\"text-align: justify;\">The operation encourages private sector investment in greening Nepal\u2019s economy and creating jobs and livelihoods related to areas such as community forestry, agriculture, clean air, and solid waste management. It also supports reforms for strengthening inclusion in development decision-making and access to assets and services.<\/p>\n<p style=\"text-align: justify;\">\u201cNepal\u2019s shift to the GRID approach is a strategic move during a challenging time that is full of opportunities for the country. This shift will help Nepal continue to make progress in expanding and protecting prosperity while reducing poverty in the face of compounding challenges that affect Nepal\u2019s development prospects, including the economic recovery from COVID and the on-going disaster, climate and environmental risks,\u201d said Joint Secretary, Ishwori Prasad Aryal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KATHMANDU &#8211; The Government and the World Bank (WB) today signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID). The proposed budgetary support aims to support improvements in the enabling environment in Nepal toward a green, climate-resilient, and inclusive development. This is the first [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-15163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nepal"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nepal, WB sign Rs 12.7 billion Financing Agreement to Support GRID - KathmanduPati<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/english.kathmandupati.com\/?p=15163\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nepal, WB sign Rs 12.7 billion Financing Agreement to Support GRID - KathmanduPati\" \/>\n<meta property=\"og:description\" content=\"KATHMANDU &#8211; The Government and the World Bank (WB) today signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID). 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