English News
‘Budgetary policies and commitments are only to be announced and never to be fulfilled’
Dr. Prakash Chandra Lohani - The present government has been insisting that it is working for the people. But when you have seen its utter negligence in its handling of the COVID-19; when you have seen its failure to institutionalize a sense of logic and rationality in public administration; when there is no regard for its own rules and regulations; when it is insisting that the illegal dissolution of the parliament is the only way democratic content of the present constitution; when the governm....
DPM Mahato claims he is fully committed to national unity and territorial integrity
Sunakhari News/ Kathmandu- Deputy Prime Minister (DPM) amd Urban Development Minister Rajendra Mahato has claimed that he is fully committed to national unity and territorial integrity. Issuing a statement Saturday night after his statement about multi-national state made after induction in the Cabinet was widely condemned, Janata Samajwadi Party (JSP) leader Mahato has claimed that his statement has been distorted and misinterpreted. He has sworn allegiance to Artic....
Nepal Receives $75 million for COVID-19 Vaccines and Stronger Response to Pandemic
WASHINGTON – The World Bank’s Board of Executive Directors today approved $75 million from the International Development Association (IDA) to support access to safe and effective COVID-19 vaccines and equitable vaccine distribution by strengthening Nepal’s health and vaccination system. The financing is expected to facilitate vaccination of at least one-third of the population through an equitable distribution plan. “The pandemic presents immense challenges and an uncertain ....
More women entrepreneurs borrowing from financial institutions due to pandemic
Sunakhari News/ Kathmandu - Despite the troubles brought by the COVID-19, the pandemic might emerge as the turning point for the women entrepreneurs as the figures suggest 85 percent jump in the loans offered to the women-owned enterprises in the last seven months. The information was shared during a webinar organized on the impact of the COVID-19 on the women entrepreneurs in Nepal, here today. By mid-July 2020 financial institutions’ lending to women entrepreneurs stood at NPR 4 billion, ....
Global Economy to Expand by 4% in 2021 : World Bank
Sunakhari News / Kathmandu - The global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. A recovery, however, will likely be subdued, unless policy makers move decisively to tame the pandemic and implement investment-enhancing reforms, the World Bank says in its January 2021 Global Economic Prospects. Although the global economy is growing again after a 4.3% contraction in 2020, the pandemic has caused a h....
Government of Nepal and World Bank sign $80 Million for Rural Enterprise and Economic Development
Sunakhari News / Kathmandu -The Government of Nepal and the World Bank signed a $80 million (around NPR 9.3 billion) million project today to bolster Nepal’s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery. The Rural Enterprise and Economic Development Project (REED) project was signed by Finance Secretary Mr. Sishir Kumar Dhungana on behalf of the Government of Nepal, and the World Bank Country Dire....
Government of Nepal and World Bank signfinancing agreements of $350 million to boost economic recovery
Sunakhari News/ Kathmandu- The Government of Nepal and the World Bank signed two separate agreements today that will help strengthen urban governance and the financial sector in Nepal in support of the country’s COVID-19 resilience and recovery efforts. The agreements for the Nepal Urban Governance and Infrastructure Project and the Finance for Growth Development Policy Credit were signed by Finance Secretary Mr. Sishir Kumar Dhungana on behalf of the Government of Nepal, and ....
World Bank approves $80 Million Rural Enterprise and Economic Development Project toboostNepal’s agriculture sector and support post-pandemic recovery
Sunakhari News Kathmandu - The World Bank approved a $80 million project todayto bolster Nepal’sagriculture sector bystrengthening rural market linkages and promoting entrepreneurship whilecreating jobs to support post-COVID-19 recovery. The Rural Enterprise and Economic Development (REED) Project will promote market linkagesto support the growth ofrural enterprises, especially those that are women-led. A key focus is on productive partnerships that will help add value, create jobs and fost....
COVID-19 impact on Nepal’s economy hits hardest informal sector
SunakhariNews/ Kathmandu - 2020—Nepal’s economy is projected to grow by only 0.6 percent in 2021, inching up from an estimated 0.2 percent in 2020 as lockdowns caused by COVID-19 disrupt economic activity, especially tourism, says the World Bank’s latest South Asia Economic Focus. Released today, the twice-a-year-regional update notes that South Asia is set to plunge this year into its worst-ever recession as the devastating impacts of the pandemic on the region’s economies ....
World Bank’s $150 Million Urban Governance and Infrastructure Project to support Federalism and Improved Service Delivery in Nepal’s Secondary Cities
WASHINGTON - The World Bank approved today a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery. The project is unique in that it puts the municipalities in front and center in project implementation, in full alignment with federalism principles enshrined in the 2015 Constitution of Nepal. “In the context of rapid urbanization, federalism and COVID-19, providi....