World Bank pledges Rs 12 billion for Nepal

Sharada Khatri

KATHMANDU: The World Bank has pledged Rs 12 billion for Nepal to tackle COVID-19, to invest in the energy sector and uplift the country financially.

A meeting of the executive board of the bank on Wednesday took a decision to this effect under the development policy loan.

According to the central office of the bank in Washington DC, the loan has been approved in view of the Nepal’s development through the utilization of hydro sector.

It also aims at improving the financial condition of Nepal Electricity Authority (NEA) and encouraging transparency, accountability and reconstruction, the bank said in its press statement.

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