World Bank to boost budgetary assistance for Nepal

Kathmandu, August 15: The World Bank is set to boost its budgetary assistance to Nepal.

In a virtual meeting with Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, Martin Raiser, Vice President for the South Asia Region at the World Bank, announced the increase in financial support.

Raiser also recommended improvements in various areas, including the investment climate, economic reforms, and employment growth.

Last financial year, Nepal received $205 million in budgetary aid from the World Bank.

Finance Minister Paudel noted that the establishment of a stable government has created a favorable environment for increased investments.