Saturday, June 13, 2009

$782 Loan from World Bank for Nepal

I have repeatedly been saying that if peace has to sustain in Nepal then the country needs economic support from the international community. Poverty and unemployment are the two major basic problems of the country. There is no doubt that the country needs a lot of loans on easy condition. I am happy to see that it is going to get a healthy amount of money as loan from World Bank.

Reuters reported:

Under the interim strategy, the World Bank’s private sector lender could potentially commit an additional $15 million to $20 million annually during the two-year period.

“The Bank’s strategy document 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,” the World Bank said in a statement.

Nepal is now in a process of creating a new constitution that will perhaps bring more human rights to the people. What I feel is that the ordinary people will have to become more proactive about political matters. The country does not have a sizable educated middle class population and that is why democracy is fragile.

(This entry was uploaded a few days ago in this blog and then it got deleted for technical reason. Now, I am again posting it.)

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