Monday, November 3, 2008
Nepal to get $36 ml World Bank aid
The World Bank plans to provide $36 million aid package to Nepal to enhance its anti-poverty programme, including access to food and basic needs for vulnerable households in the impoverished nation.
The World Bank pledged to provide $19 million grant assistance and $17 million soft loan totaling $36 million financial aid package to the Maoist-led government to enhance its access to food and basic needs for vulnerable households in food insecured districts.
Lakhs of people in the impoverished nation, particularly those living in western Nepal, have been facing acute food shortages over the last few months due to poor crops production.
The situation of food shortage has been made worse due to poor accessibility and communication system in the Himalayan nation that has made delivery of relief difficult.
The WB assistance, being provided in three phases under the social safety net project, will be utilised mainly to purchase fertilizer, seed and food grains.
World Bank's Country Director for Nepal Susan G Goldmark inked a memorandum of understanding in this regard with Nepal's Finance Secretary at the Finance Ministry.
Posted by nickglais on 11/03/2008 09:01:00 AM