WB donates nearly Rs 9b to consolidate peace process

The World Bank has provided a grant of US$ 127 million (approximately Rs 8.89 billion) to help the government of Nepal consolidate the peace process and to scale up the delivery of basic services to under-served rural populations.

Three agreements were signed in Kathmandu Tuesday by Finance Secretary Rameshwore Khanal and Susan Goldmark, the World Bank Country Director for Nepal in presence of Finance Minister Dr. Baburam Bhattarai and Isabel Guerrero, the World Bank Vice President for South Asia.

The US$ 50 million grant for the Emergency Peace Support Project intends to help Nepal fulfill commitments made under the Comprehensive Peace Agreement and the subsequent 23 Point Agreement.

"All three projects are anchored in the Nepali agenda - peace needs development and development needs peace," said Goldmark adding, "as Nepal continues to make progress on the crucial path of peace-building and development, Nepal can be assured of continued World Bank assistance."

The US$ 50 million grant for the Nepal Health Sector Program is designed to expand access to and the use of essential health care services, especially by underserved populations. The US$ 27 million grant for the Second Rural Water Supply and Sanitation Project will scale up the project to provide services to more remote rural areas.

The grants, first such aid since the Maoists are heading the government, are from the International Development Association (IDA), the World Bank's concessionary lending arm. nepalnews.com ia Aug 26 08