World bank commits $370 million

The World Bank on the last day of the meeting of Regional Management Team for South Asia — dedicated for Nepal — On Thursday committed $250 million and an addition of $120 million grant, the largest ever grant programme to Nepal for this year.
The grant will be without any conditionality as requested by Nepal to show the bank's commitment that it stands with the people of Nepal on the mission of peace building and state restructuring.
Speaking on the Nepal Day today Ad Melkert, UN under-secretary general and associate administrator, UNDP said that Nepal faces a challenge to bridge gap between the rich and poor. "As time is running out, we need to do something concrete," he said adding that the hard days will be overcome by national reconciliation and engagement of international community.
"Equality in policy and equal opportunity in practice can only ensure the MDGs and international community is ready to help Nepal in development, peace process and stability," he added.
Dr Ram Sharan Mahat, finance minister expressed commitment on scaling up the quality of physical infrastructures in the rural areas so that people can create and take advantage of economic development. "Community approach to development works best during conflict period," he said.
Ian Martin, special representative of the UNGS moderated the second session on 'Securing the Peace', where Dr Minendra Rijal, a seasoned democrat, highlighted the importance of reform in agriculture and land for the development of Nepal.
"Nepal being an agriculture country should focus on agriculture," Dr Baburam Bhattarai, one of the chief ideologues and second-in-command of Maoists said adding that industrialisation and more employment creation is key to Nepal's progress.
"We should build the basis for future growth in income and employment for the reduction of poverty," Prakash Chandra Lohani, former finance minister, said adding that investments in infrastructure, power generation, irrigation and telecommunication are a must for development.
Dr Dilli Raj Khanal, Member of Parliament from CPN (UML), stressed on security for investment and infrastructure development.
Earlier, welcoming the participants, Praful Patel, vice-president of World Bank for South Asia asked Nepal to come forward with what it wants.
Susan Goldmark, country director of the World Bank — a long-time development partner — for Nepal, on the occasion, expressed solidarity with the Nepali people. And Mac Maharaj, member of African National Congress, South Africa shared the South African experience of peace process.