English News
COVID-19 impact on Nepal’s economy hits hardest informal sector
SunakhariNews/ Kathmandu - 2020—Nepal’s economy is projected to grow by only 0.6 percent in 2021, inching up from an estimated 0.2 percent in 2020 as lockdowns caused by COVID-19 disrupt economic activity, especially tourism, says the World Bank’s latest South Asia Economic Focus. Released today, the twice-a-year-regional update notes that South Asia is set to plunge this year into its worst-ever recession as the devastating impacts of the pandemic on the region’s economies ....
World Bank’s $150 Million Urban Governance and Infrastructure Project to support Federalism and Improved Service Delivery in Nepal’s Secondary Cities
WASHINGTON - The World Bank approved today a $150 million project to help Nepal strengthen service delivery and institutional capacities in strategic secondary cities, and to support the post-COVID-19 economic recovery. The project is unique in that it puts the municipalities in front and center in project implementation, in full alignment with federalism principles enshrined in the 2015 Constitution of Nepal. “In the context of rapid urbanization, federalism and COVID-19, providi....
A renewed political commitment to regional cooperation must be a priority for South Asia
SunakhariNews/ Kathmandu - While the COVID-19 pandemic has exacerbated powerful trends towards de-globalization, looking inwards by abandoning regional cooperation is not a solution for the South Asian countries and an improved connectivity and cooperation through renewed political commitment to regional and sub-regional initiatives can benefit the region and engender the much needed reforms in multilateralism and globalization, according to the experts in a virtual meeting organized by Sou....
Survey Reveals Extent of the Fallout from the Pandemic on Micro, Small and Medium Enterprises in Nepal
Sunakhari News/ Kathmandu - The COVID-19 pandemic has spurred more Nepali businesses to start using internet, social media or digital platforms to seize business opportunities, in the wake of declining traditional sales. The finding is revealed in the COVID-19 Nepal Business Pulse Survey carried out between May 25 and June 10 by the IFC and World Bank, in partnership with the government of Japan. It shows a fifth of businesses surveyed have started to use or have been using the Internet, soci....
New IFC report urges companies to take action to boost women’s contribution in the hydropower sector
SunakhariNews/Kathmandu - Companies and women in Nepal would stand to benefit if greater action was taken to improve women’s participation and contribution in the hydropower sector. That’s a key finding of a new study by IFC, a member of the World Bank Group, which calls for companies to adopt gender sensitive policies and practices to attract more women into working in the hydropower sector – a key national priority. “Women make up more than half of Nepal’s population, yet the s....
World Bank’s $200 million support to strengthen Nepal’s financial sector to spur COVID-19 resilience and recovery
Sunakhari News/ WASHINGTON - The World Bank approved today a $200 million “Finance for Growth” development policy credit to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal’s COVID-19 resilience and recovery efforts. “In this era of COVID-19, protecting people’s lives is the priority, but giving a boost to economic recovery is equally urgent,” stated Faris Hadad-Zervos, World Bank Country ....
ADB provides USD 200 million concessional loan and USD 35 million grant
Sunakhari News/ Kathmandu - Asian Development Bank (ADB) agreed to provide concessional loan equivalent to USD 200 million (About Rs. 23.88 billion) to the Government of Nepal (GON) for implementation of South Asia Subregional Economic Cooperation (SASEC) Power Transmission and Distribution System Strengthening Project. Similarly, the Government of Norway agreed to provide a grant co-financing equivalent to USD 35 million (About Rs. 4.18 billion)to be administered by ADB. Finance Secretary Mr. S....
Ncell hands over Ncell Scholarships and Excellence Awards 2020 to IoE students
Sunakhari News/ Kathmandu - Ncell Private Limited has handed over cash prize of Ncell Scholarships and Excellence Awards 2020 to the Institute of Engineering (IoE), Pulchowk Campus. Ncell under its Corporate Social Responsibility (CSR) initiative has been conferring the scholarships and excellence awards to outstanding students of five faculties studying in IoE, Pulchowk Campus. Since the educational institutions are closed due to COVID-19 and organising a formal programme to hand over the sc....
Government of Nepal and the World Bank Launch Youth Employment and Transformation Initiative Project
Sunakhari News / Kathmandu -The ‘Youth Employment Transformation Initiative’ project was jointly launched today by Honorable Minister of Labor, Employment and Social Security Mr. Rameshwor Raya Yadav and World Bank Country Director for Maldives, Nepal and Sri Lanka, Mr. Faris Hadad-Zervos. Financed by the World Bank to promote domestic employment, the project will enable poor and vulnerable youth gain access to employment, skills development and capacity building opportunities. Ali....
NIBL Ace Capital comes up with NIBL Professional Portfolio Service
Sunakhari News/ Kathmandu - NIBL Ace CAPITAL Limited, one of the Nepal’s leading merchant banking company and a subsidiary of Nepal Investment Bank Limited, has come up with a new tailored product”NIBL Professional Portfolio Service “under the Portfolio Management Service. This product aims to create an investment opportunity to the busy professionals, with limited time, expertise and fund to invest under this service. Its theme is “Invest Now, Pay Later “which would be very helpful....