Washington, Nov 19: The World Bank has praised
Nepal for its "innovative" reform programmes and approved a
70 million USD credit to help reduce poverty.
The key target in Nepal is the reduction of the overall
poverty ratio from about 40 per cent to 30 per cent by the end
of 2007, a World Bank statement said here yesterday.
Prior to the approval of the USD 70 mn poverty reduction
support credit, the bank discussed Kathmandu's "ambitious
home-grown development plan" and poverty reduction targets.
Despite the instability and uncertainty linked to
political conflict and insurgency, "important and often
innovative reforms have emerged in Nepal, particularly over
the past two years," the world bank said.
The steps taken in Nepal to help two ailing commercial
banks, introduction of a Medium-Term Expenditure Framework
(MTEF) to rationalize the development budget, transfer of
primary education and primary health care facilities to
community management, and the government's anti-corruption
drive came in for praise from the World Bank.
Bureau Report
