Nepal Gains World Bank Aid for Poverty Alleviation Efforts

Nepal and the World Bank have signed a grant agreement providing $75 million to the country’s Poverty Alleviation Fund, which supports economic development, infrastructure and rural development projects.

The sum includes a $65 million grant from the International Development Association, which is the World Bank’s concessional arm, and a $10 million grant co-financed by the Global Food Price Response Program multidonor trust fund, the Himalayan News Service reports.

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About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.