18.15 billion from the World Bank for development in Nepal

The World Bank will provide a loan of Rs. 18.15 billion for green, flexible and inclusive development of Nepal's financial sector. The Executive Board of the World Bank has decided to provide the loan today to support Nepal's green, flexible and inclusive development and to strengthen the region's stability, diversify financial solutions and increase access to financial services.

 Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal and Sri Lanka, said the financial system is the key to mobilizing individual investment and conducting economic activities. He expressed the belief that it would benefit especially the poor and those at risk.

 The Bank will be instrumental in implementing the Government of Nepal's Transforming Financial Sector Reform Program, addressing the risks of financial stability in the wake of the Covid-19 epidemic, supporting private sector-led growth, enhancing banking sector oversight and increasing liquidity and inclusion through financial literacy.