World Bank provides Rs 3.48 billion for promoting agriculture commercialisation in Nepal

The World Bank (WB) is to provide a grant and loan assistance worth US$ 40 million (approximately Rs 3.48 billion) to Nepal for promoting “agriculture commercialisation” in the nation.

A special program was organized at the Ministry of Finance in Kathmandu on Wednesday to sign the financial agreement and grant agreement between Shanta Raj Subedi, secretary at the Ministry of Finance (MoF) and Tasheen Sayed, the WB´s country manager for Nepal.

The finance ministry said the assistance includes $22 million as loan assistance and $18 million as grant. The grant and loan assistance will be utilized for additional financing to implement the Project for Agriculture Commercialization and Trade (PACT) being launched by the government to improve the competitiveness of the smallholder farmers and the agribusiness sector in selected commodity value chains in the targeted districts. nepalnews.com