The second-poorest country in Asia after Afghanistan, Nepal was reliant on external financing for a quarter of its public expenditures even before the earthquake. In 2013-14, Nepal’s foreign aid receipts topped $1 billion, a jump of 8 percent from the previous year.
Prior to the earthquake, Nepal’s government recorded aid receipts from 41 development partners. Only in December, theMillennium Challenge Corp. announced plans to develop a compact with Nepal, its first with a South Asian country.
Lorenzo is a contributing analyst for Devex. Previously Devex's senior analyst for development finance in Manila, he is currently an MA candidate in international economics and international development at the Johns Hopkins School of Advanced International Studies in Washington. Lorenzo holds a bachelor's degree in government and social studies from Wesleyan University.
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