The World Bank’s Board of Directors today approved a $100 million Development Policy Credit (DPC) to help improve the enabling environment for the country’s green, climate-resilient, and inclusive development pathway. Nepal.
This is the first in a programmatic series of three DPCs on Green, Resilient and Inclusive Development (GRID).
“As a result of the COVID-19 pandemic, the World Bank has refocused its program in Nepal to focus its support to the government to follow a greener, more inclusive and more resilient development path., said Faris Hadad-Zervos, World Bank country director for the Maldives, Nepal and Sri Lanka, reading a statement released on Friday.
“Through this operation, we are supporting key government policy actions across all sectors, including water, land use, agriculture, forestry, urban, waste and pollution,” a- he added.
This first operation supports strategic GRID transitions that help build and sustain prosperity for all. This includes the sustainable and productive use of natural capital; strengthen the resilience of urban and rural infrastructure, human capital and livelihoods to climate and environmental risks; and promote more efficient and cleaner production, consumption and mobility.
The operation also supports reforms to strengthen inclusiveness in development decision-making and access to assets and services; and encourages private sector investment in greening Nepal’s economy and creating jobs and livelihoods related to areas such as community forestry, agriculture, air quality and solid waste management.
“Nepal’s transition to the GRID approach is a strategic decision at a challenging time full of opportunity. This shift will help the country continue to make progress in expanding and protecting prosperity while reducing poverty in the face of compounding challenges affecting Nepal’s development, including COVID, disaster, climate and climate risks. ‘environment’, said Steve Danyo, Sector Manager for Sustainable Development for the Maldives, Nepal and Sri Lanka, and the Team Leader for the operation. “The GRID DPC supports Nepal’s transition to a more sustainable, resilient and inclusive economy.