The World Bank’s Interim Strategy Note (ISN) for Nepal supports the promotion of consensus and unity to address key elements of the peace process, including the foundations for state building, growth, and improved basic service delivery for Nepal’s poor. Nepal is undertaking several difficult transitions at the same time. Despite the very real challenges, these transitions present an opportunity to build a stable and peaceful Nepal that is inclusive, prosperous and accountable to its people.
"Nepalis have shown remarkable resilience throughout their history. Thus, this is a period not only of risk but also enormous opportunity", says Susan Goldmark, World Bank Country Director for Nepal. "While many of the transitions will not be completed in a two-year period, during this time the country can continue to establish a sound basis for peace and economic development."
World Bank's Role
Supporting the goal of promoting peace and development, the strategy is organized around three themes that are consistent with priorities of the Government of Nepal:
- Promoting institutions to address the cluster of challenges in adapting and constructing the public systems, institutions and capacities needed for the new Nepal;
- Laying the foundation for sustainable, inclusive and equitable economic growth with focus on job-creation, productivity, connectivity and sustainability; and
- Enhancing equitable access to the benefits of growth, services and social inclusion.
Over the next two years Nepal can potentially benefit from an allocation of about $782 million from the International Development Association (IDA), the Bank Group’s concessionary lending arm. The International Finance Corporation (IFC), the Bank’s Group’s private sector arm, can potentially commit $15-20 million on average annually, depending on the availability of viable investments and improvements in the business climate.