Kathmandu, October 9: The Board of Executive Directors of the World Bank has granted $150 million to the Government of Nepal for use in natural or climate-induced hazards or health emergencies in Nepal.

Nepal Disaster Resilience Development Policy Credit with Catastrophe Deferred Drawdown Option (CAT DDO) supports policy and regulatory reforms to enhance disaster response. It works to strengthen institutional mechanisms for effective disaster response. It suggests improving early warning systems, reducing risk and increasing risk-informed investment in critical infrastructure. It also assists governments in developing policies, institutions, and regulatory frameworks to enhance preparedness for public health emergencies.

David Cicilline, World Bank’s Regional Country Director for Maldives, Nepal and Sri Lanka, said Nepal is facing multiple crises of natural and climate-induced hazards and health emergencies. This support will support the government’s steps to build investments against rising risks.

People’s News Monitoring Service.

Source : https://www.peoplesreview.com.np/2024/10/09/world-bank-provides-150-million-to-nepal/