Kathmandu, June 13-- On Friday, the World Bank Group introduced a new Country Partnership Framework (CPF) for Nepal for the fiscal years 2025-2031. This framework details its strategic involvement to aid Nepal in reaching its development objectives and enhancing the lives of its citizens.

As stated in the CPF, the World Bank Group intends to allocate approximately $2.7 billion during this period. This support will come through various methods including development policy financing, performance-based operations, programmatic strategies, investment project financing, guarantees, as well as advisory services and technical assistance.

The seven-year plan was introduced during an event in Kathmandu and presents a detailed outline of the World Bank Group’s activities in Nepal. It emphasizes three primary outcomes that align with the organization's corporate scorecard: creating better job opportunities, fostering interconnected communities, and promoting a sustainable and resilient populace, the World Bank said.

The Group will also collaborate with the Asian Development Bank, other development partners, and private sector stakeholders to pinpoint essential reforms and highlight vital areas for development.

The CPF points out two main challenges: generating job-creating growth and enhancing resilience against natural disasters. To tackle these issues, the Group plans to address implementation challenges associated with projects and adopt more structured programmatic approaches. It also aims to diversify its portfolio by increasing focus on simpler and more targeted initiatives.

In the immediate term, the CPF prioritizes new efforts directed at improving business conditions, advancing tourism initiatives, enhancing digital connectivity, and promoting integrated urban development—key areas viewed as vital for facilitating growth and creating jobs.

People’s Review News Monitoring Service