Faris Hadad-Zervos is the World Bank’s new Country Director for Maldives, Nepal and Sri Lanka, effective from Wednesday. Based in the sub-regional office in Kathmandu, Nepal, he will lead World Bank support to Maldives, Nepal and Sri Lanka, overseeing the current total portfolio of around $5.5 billion.
Production and employment will be featured as the areas of special priorities in the Chandragiri municipality’s budget for the upcoming fiscal year.
Chairperson of the International Affairs Committee of the parliament, Pabitra Niraula, presented its annual report for the year 2077 BS in the meeting of House of Representatives (HoR) today. joint committees.
The World Bank Board of Executive Directors on Wednesday approved a $100 million Development Policy Credit (DPC) to continue support to the Nepal in improving the financial viability and governance of the electricity sector and recovering from the Covid-19 crisis.
The government has spent Rs 125 million per day – in the last 80 days – to fight Covid-19 pandemic, though the number of coronavirus has crossed over 2,300.
The Asian Development Bank (ADB) today approved a $250 million concessional loan to help Nepal fund its response to the novel coronavirus disease (Covid-19) pandemic, which includes measures to strengthen the country’s public health systems and mitigate the adverse economic and social impacts of the pandemic, particularly on the poor.
Covid-19 (coronavirus) pandemic and shutdown of advanced economies could push as many as 60 million people into extreme poverty, according to the World Bank.
The global economy could suffer between $5.8 trillion and $8.8 trillion in losses – equivalent to 6.4 per cent to 9.7 per cent of global gross domestic product (GDP) – as a result of the novel coronavirus disease (Covid-19) pandemic, says a new report released by the Asian Development Bank (ADB) today.
Nepal's score on budget transparency has dropped in the 2019 round of biennial Open Budget Survey (OBS) – the research instrument using internationally accepted criteria to assess public access to central government budget information, formal opportunities for the public to participate in the national budget process; and the role of budget oversight institutions such as the legislature and auditor in the budget process.
Former finance ministers have suggested the government to bring budget of coming fiscal year with a priority to agro modernization, employment promotion, development of big infrastructure and export-oriented industries.
Out of the total fertile land in the country, sugarcane is being cultivated on around 81,000 hectares of land. Though Nepal is in the 33rd position among the countries producing sugarcane in the world, sugarcane farming is not prospering in this situation also.
Nepal was ranked 94 out of 190 economies on the Doing Business 2020 ranking marking a significant shift for the country into the top 100 economies on the ease of doing business. As a part of the government’s ongoing efforts to improve the country’s investment climate reforms, the Office of the Prime Minister & Council of Ministers (OPMCM) and Ministry of Finance with the support of the World Bank Group organized a workshop to develop institutional arrangements for the newly formed Coordination Centre in OPMCM and put together an implementation plan for Doing Business reforms.
Minister for Home Affairs Ram Bahadur Thapa has said the export-oriented economy should be made stronger. He said this while inaugurating the 'trade analysis and export promotion training' organized by Trade and Export Promotion Centre Kathmandu in Ratnanagar today.