World Bank approves $782 million support package for Nepal

The World Bank has approved its largest ever support package to Nepal potentially worth $782 million, designed to improve access to basic and primary education, enhance irrigation, expand rural roads, and improve living conditions, livelihoods, and empowerment among the rural poor.

The two-year new support package given through the World Bank's concessionary lending arm, the International Development Association (IDA), doubles the amount of development resources currently available from the Bank to Nepal.

The World Bank also said that that there are provisions for providing additional aid worth $100-200 to Nepal, and the IDA could give another $15 million to $20 million annually during the two-year period.

The aid is for financing the country's Nepal Education for All Project, which is designed to improve access to and benefits from basic and primary education for children, especially from disadvantaged groups.

Part of the aid is also for the Irrigation and Water Resources Management Project meant to improve irrigated agriculture productivity and management of selected irrigation schemes, and enhance institutional capacity for integrated water resources management.

The Road Sector Development Project will also get money from the aid package for upgrading roads in five hill districts, which currently lack all-season road access, which will help improve access to economic centers and social services.