WB approves USD 782 m for Nepal = just watch all this money will land in the lap of sujata bokshi and similar others=SR
The World Bank bas approved financial support of about US$ 782 million to Nepal for the next two years through International Development Association (IDA), the bank's concessionary lending arm.
The meeting of the board of directors of the bank held Thursday discussed interim assistance strategy saying Nepal's determination to build a robust peace through development and poverty reduction will get strong support from the bank.
Welcoming the many significant milestones achieved since the signing of the Comprehensive Peace Agreement in November 2006, the Bank's strategy document supports the promotion of consensus and unity to address key elements of the peace process, including the foundations for state building, growth, and improved basic service delivery for Nepal's poor, a statement issued by the bank says.
"This is a period not only of risk but also enormous opportunity," says Susan Goldmark, World Bank Country Director for Nepal, adding, "While many of the transitions will not be completed in a two-year period, during this time the country can continue to establish a sound basis for peace and economic development."
The strategy reflects considerable continuity, emphasizing the areas of strength but suggesting more flexibility to respond to opportunities. It builds on the areas which have shown to be robust and to modalities of implementation tailored to local conditions and what has worked in the past. By adopting a "peace filter", the strategy also intends to improve sensitivity in bank financed projects to the root causes of the conflict and social tensions.
Supporting the overarching goal of promoting peace and development, the strategy is organised around three themes that emerged during consultations within the Bank Group and with the Government, donor partners and civil society.
The first theme addresses the cluster of challenges facing the state in adapting and constructing the systems, institutions, and capacities needed for the new Nepal. The second focuses on overcoming constraints faced by the productive sector and the third theme concentrates on expanding and honing programs and activities that can increase opportunities and well-being, especially for the poor and excluded.
The board also approved a Project for Agriculture Commercialization and Trade, which aims to improve the competitiveness of smallholder farmers and agribusiness in selected commodity value chains in 25 districts. nepalnews.com June 05 09