Kathmandu, Oct 10: The World Bank has approved $150 million in emergency financing for Nepal. The funds will be available in the event of a natural or climate-induced disasters or health emergencies, media reports said.
The approval was made in Washington on Wednesday, The Kathmandu Post said.
“The Nepal Disaster Resilience Development Policy Credit with Catastrophe Deferred Drawdown Option (Cat DDO) operation supports policy and regulatory reforms to increase disaster resilience and strengthens institutional mechanisms for effective disaster response,” the multilateral funding organisation said on Wednesday.
(UNI)
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