World Bank Approves Nearly NPR 7 Billion Loan for Nepal's Clean Air and Prosperity Project
Kathmandu. The World Bank has approved a loan equivalent to nearly 7 billion Nepali Rupees (US$ 52 million) for Nepal.
The World Bank stated that this loan assistance has been approved for Nepal's Clean Air and Prosperity Project. The objective of the project is to reduce air pollution and strengthen air quality management.
David Seislen, World Bank's Country Director for Maldives, Nepal, and Sri Lanka, stated that air pollution is not only a public health crisis for Nepal but also an economic burden. He mentioned that it is causing a reduction in Gross Domestic Product due to increased treatment costs and decreased labor productivity.
The project also aims to reduce harmful particulate emissions from boilers and furnaces used in industries and commercial establishments, and to assist approximately 400 industries in adopting electric boilers, modern furnaces, or advanced pollution control technologies.
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