{"id":11342,"date":"2018-11-19T11:15:20","date_gmt":"2018-11-19T05:30:20","guid":{"rendered":"http:\/\/pahichan.com\/?p=11342"},"modified":"2018-11-19T11:15:20","modified_gmt":"2018-11-19T05:30:20","slug":"world-bank-group-committed-to-support-nepals-development-goals","status":"publish","type":"post","link":"https:\/\/pahichan.com\/en\/world-bank-group-committed-to-support-nepals-development-goals\/","title":{"rendered":"World Bank Group Committed to Support Nepal\u2019s Development Goals"},"content":{"rendered":"

Kathmandu<\/b><\/span>\u00a0(Pahichan) November 19 –\u00a0World Bank Vice President for South Asia Region,\u00a0Hartwig Schafer,<\/b>\u00a0reiterated the World Bank Group\u2019s commitment to support Nepal in its ambitious transition to federalism, as he concluded a five-day visit to the country.<\/u><\/u><\/span><\/p>\n

During his meeting with\u00a0<\/span>Prime Minister KP Sharma Oli<\/b><\/a>, Schafer congratulated the government\u2019s visionary goal of reaching middle-income country status by 2030, reaffirmed the World Bank\u2019s commitment to support government priorities, and to help the country raise additional finance from a broader range of sources. In his\u00a0<\/span>meeting with Finance Minister<\/a>\u00a0Dr. Yuba Raj Khatiwada<\/b>,\u00a0Mr. Schafer<\/b>\u00a0also discussed further support to the federalism transition, as well as the planned International Investors\u2019 Conference in 2019 in support of Nepal\u2019s agenda to crowd in private finance for development.<\/u><\/u><\/span><\/p>\n

\u201cWith a stable government that has prioritized broad-based reforms and private sector-driven growth, I am positive that Nepal can achieve higher growth rates for the next several years. To sustain such growth, we want to help Nepal mobilize investments from sources that go beyond traditional development finance. We call this approach Maximizing Finance for Development. Private sector investment will only come if there is a transparent, conducive policy environment<\/i>,\u201d he said, \u201cNepal is one of the first countries where we are approaching this in a systematic way with the World Bank, IFC and MIGA coming in and helping to provide a platform for private investments in the energy, technology, and other sectors. This will also create jobs for more and more Nepalis, which is the need of the hour<\/i>.\u201d<\/u><\/u><\/span><\/p>\n

The Vice President also had a\u00a0<\/span>joint field visit<\/a>\u00a0with Finance Minister\u00a0Dr. Yuba Raj Khatiwada<\/b>\u00a0and Minister for Energy, Water Resources and Irrigation\u00a0Barsha Man Pun<\/b>\u00a0to discuss the potential of tourism, hydropower and private sector investment in the country. The team visited Solukhumbu District and Sankhuwasabha District before\u00a0<\/span>seeing houses being rebuilt\u00a0after the earthquake in the Majhi settlement of Gaikhura in Manthali Municipality, Ramechhap.\u00a0\u00a0\u00a0<\/u><\/u><\/span><\/p>\n

Walking through the houses being rebuilt, Mr.\u00a0Schafer<\/b>\u00a0met members of local communities, commending their resilience and efforts to build back better after the earthquake. He also met elected members of parliament and local level representatives. \u201cIt is heartening to see the collective effort of so many actors to ensure that people\u2019s homes and lives are rebuilt<\/i>,\u201d Schafer said. \u201cWe must pick up the pace of reconstruction, and also ensure that disaster risk reduction measures are put in place to deal with future contingencies<\/i>.\u201d The World Bank has provided a credit of $500 million to the Government of Nepal through the\u00a0<\/span>Earthquake Housing Reconstruction Project<\/a>.<\/u><\/u><\/span><\/p>\n

In Kathmandu, Mr. Schafer participated in the\u00a0<\/span>launch<\/a>\u00a0of a joint report of the World Bank Group entitled \u201c<\/span>Country Private Sector Diagnostic: Creating Markets in Nepal<\/a>\u201d. He was also part of the\u00a0<\/span>signing of two agreements<\/a>\u00a0between the Government of Nepal and World Bank. The agreements, totaling US$ 155.7 million, will be invested in the construction and maintenance of safe, resilient and cost-effective bridges in Nepal, and in improving food security of vulnerable households and communities. In his first visit to Nepal as the World Bank Vice President for South Asia, Mr.\u00a0Schafer<\/b>\u00a0also met with\u00a0<\/span>opinion leaders<\/a>, senior government officials and civil society representatives. In engaging with the private sector, he visited Saral Urja Nepal, the investee clients of Business Oxygen (BO2), an IFC SME-Venture Fund, and\u00a0<\/span>Incessant Rain Animation Studios<\/a>, a state-of-the-art animation and visual effects studio.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Kathmandu\u00a0(Pahichan) November 19 –\u00a0World Bank Vice President for South Asia Region,\u00a0Hartwig Schafer,\u00a0reiterated the World Bank Group\u2019s commitment to support Nepal in its ambitious transition to federalism, as he concluded a five-day visit to the country.
\nDuring his meeting with\u00a0Prime Minister KP Sharma Oli, Schafer congratulated the government\u2019s visionary goal of reaching middle-income country status by 2030, reaffirmed the World Bank\u2019s commitment to support government priorities, and to help the country raise additional finance from a broader range of sources. In his\u00a0meeting with Finance Minister\u00a0Dr. Yuba Raj Khatiwada,\u00a0Mr. Schafer\u00a0also discussed further support …<\/p>\n","protected":false},"author":44,"featured_media":11343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20,1838,621,490],"tags":[528],"class_list":["post-11342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-issue","category-development","category-news","category-slider","tag-world-bank"],"acf":[],"_links":{"self":[{"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/posts\/11342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/comments?post=11342"}],"version-history":[{"count":1,"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/posts\/11342\/revisions"}],"predecessor-version":[{"id":11344,"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/posts\/11342\/revisions\/11344"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/media\/11343"}],"wp:attachment":[{"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/media?parent=11342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/categories?post=11342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pahichan.com\/en\/wp-json\/wp\/v2\/tags?post=11342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}