World Bank Approves $150 Mln for Disaster Response in Nepal

The World Bank has approved $150 million in emergency funding for Nepal, designed to improve the country's ability to respond swiftly to natural disasters, climate risks, and public health emergencies.

The funding will enhance Nepal's disaster resilience by supporting policy reforms, strengthening institutional frameworks, and providing immediate financial assistance during crises.

The financing package includes a disaster contingency option that will enable the Nepali government to access critical funds quickly in the aftermath of a disaster.

This measure is part of a broader effort to bolster the country’s capacity to manage risks from floods, landslides, earthquakes, and other natural hazards.

Additionally, the program will focus on improving early warning systems, investing in infrastructure that can withstand disasters, and ensuring the country is better prepared for future health emergencies.

This funding is vital for Nepal, which recently faced devastating floods, underscoring the need for rapid response mechanisms.

The World Bank’s disaster contingency program will complement Nepal’s existing disaster response mechanisms, including the National Disaster Management Fund and the Prime Minister’s Disaster Relief Fund.

It provides a much-needed financial cushion that will help the country maintain stability and ensure that resources are not diverted from ongoing development programs.