Saturday April 20, 2019
Home Uncategorized World Bank wi...

World Bank will provide upto $500 million fro Nepal’s reconstruction

0
//

download (1)

Kathmandu: The World Bank Group on Tuesday announced a financial aid of up to $500 million to Nepal for reconstruction following the April earthquake.

The announcement was made ahead of an international donor conference in Kathmandu on Thursday, The Himalayan Times reported.

According to the government, the April 25 temblor caused damage worth $500 million to physical infrastructure and assets. The official death toll is 8,832. Hundreds of people are still unaccounted for.

The World Bank aid will consist of $200 million for housing reconstruction in poor rural areas and another $100 million for the government’s budget and to strengthen the banking system.

The bank said that an additional $100-200 million will be redirected from existing World Bank projects in Nepal and invested in reconstruction efforts.

“The World Bank Group stands with the people of Nepal in their time of need,” said its president Jim Yong Kim.

“We are working with the government of Nepal and its international partners to help the country get the resources it needs to build back better.

“We will do everything possible to help people who suffered from the earthquake, especially the poor, rebuild their homes and livelihood,” he said. (IANS)

Next Story

World Bank to Help Sri-Lankan Farmers Improve Productivity and Tackle Climate Change

The project will ensure that all farmers obtain adequate access to training and research

0
world bank, sri lanka
The project will ensure that all farmers obtain adequate access to training and research. Wikimedia

The World Bank on Monday approved a $125 million loan for Sri Lanka to help small farmers improve productivity and tackle climate change.

The programme will benefit more than 470,000 small farmers in six provinces in the dry zone of the country, selected for being most exposed to climate impacts, the World Bank said in a statement cited by Xinhua news agency.

Sri Lanka is particularly vulnerable to climate-related natural disasters such as floods and droughts with hundreds of people killed in recent years, the report said.

farmers, sri lanka, world bank
Sri Lanka is particularly vulnerable to climate-related natural disasters such as floods and droughts with hundreds of people killed in recent years, the report said. Pixabay

“Innovation, including the introduction of improved crop varieties, cropping patterns, water resources management, among others, can help farmers adapt to changing climate and improve their incomes and livelihoods,” said World Bank Country Director for Maldives, Nepal and Sri Lanka Idah Z. Pswarayi-Riddihough.

ALSO READ: Ethiopia to Renew Safety Questions After Devastating Plane Crash

The project will ensure that all farmers obtain adequate access to training and research.

Sri Lanka’s agriculture is one of the worst-affected sectors by climate change. Agriculture contributes about 7.7 per cent to the country’s economy and employs 27 per cent of the population. (IANS)