{"id":3339,"date":"2020-10-29T13:18:19","date_gmt":"2020-10-29T07:33:19","guid":{"rendered":"https:\/\/english.kathmandupati.com\/?p=3339"},"modified":"2020-10-29T13:25:30","modified_gmt":"2020-10-29T07:40:30","slug":"world-bank-approves-80-million-in-credit-to-boost-agriculture-sector-support-post-pandemic-recovery","status":"publish","type":"post","link":"https:\/\/english.kathmandupati.com\/?p=3339","title":{"rendered":"World Bank approves $80 million in credit to boost agriculture sector, support post-pandemic recovery\u00a0"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>KATHMANDU-\u00a0 <\/strong><span style=\"font-weight: 400;\">The World Bank has approved a credit of $80 million, or nearly Rs 9.4 billion, to implement a project to bolster Nepal\u2019s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Releasing a statement on Thursday, the World Bank said that the Rural Enterprise and Economic Development (REED) Project will promote market linkages to support the growth of rural enterprises, especially those that are women-led.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">According to the statement, a key focus is on productive partnerships that will help add value, create jobs and foster sustainable linkages between small-holder producers and institutional buyers.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u201cThe project is an opportunity for the government and the private sector to work together in building the \u2018Nepal\u2019 brand in the agriculture sector and leverage the country\u2019s global recognition,\u201d stated Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka. \u201cIn doing so, the project can stimulate many niche sectors such as coffee, tea, fruit and medicinal products, among others, to help them grow and to support post-COVID-19 recovery.\u201d<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">The project focuses on five economic corridors covering Provinces 1, 2, Bagmati, Gandaki, Lumbini and Sudurpaschim that offer opportunities for successful linkage activities of the rural entrepreneurs to be supported by the project, according to the World Bank\u2019s statement.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The project will also help improve production through investments in municipal agriculture centers and value chain infrastructures to ensure the availability of inputs for farming as recovery actions from COVID-19. The project will use labor-intensive Cash for Work mechanism, to the extent possible, in short-term public works.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">The project supports the Government of Nepal\u2019s Agriculture Development Strategy 2015-2035 that aims to create a sustainable, competitive, inclusive and resilient agricultural sector that drives economic growth with private sector participation.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KATHMANDU-\u00a0 The World Bank has approved a credit of $80 million, or nearly Rs 9.4 billion, to implement a project to bolster Nepal\u2019s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery. Releasing a statement on Thursday, the World Bank said that the Rural Enterprise and Economic [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>World Bank approves $80 million in credit to boost agriculture sector, support post-pandemic recovery\u00a0 - 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=3339\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank approves $80 million in credit to boost agriculture sector, support post-pandemic recovery\u00a0 - KathmanduPati\" \/>\n<meta property=\"og:description\" content=\"KATHMANDU-\u00a0 The World Bank has approved a credit of $80 million, or nearly Rs 9.4 billion, to implement a project to bolster Nepal\u2019s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery. 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