The World Bank has pledged to increase its investment in Nepal in 2007, pushing up its loan aid to the country to a sizable USD251.9 million. According to Nepalese finance minister Ramsharan Mahat, discussions with the bank are already being conducted to raise the living standard of people affected by conflict in the country’s rural areas. The money will be funneled into efforts at reducing poverty, improving infrastructure, and boosting the agricultural, finance, and education sectors. Mahat added that the Nepalese government will be enlisting the help of local specialists to participate in the development programs.
Source: WB increases loan assistance (The Rising Nepal)