World Bank Approves Rs.17.36 Billion Assistance To Nepal

June 19, 2022 | Investopaper

The World Bank has approved a grant of Rs. 17.36 billion to expand broadband service access in Nepal.

The Executive Board of the bank has approved such assistance for the Digital Nepal Acceleration (DNA) project. Such assistance is being provided with the objective of expanding broadband services at concessional rates, especially in rural areas and converting businesses to digital. 

The DNA project is funded by the World Bank’s International Development Association (IDA).

The project is expected to help implement the country’s digital economy strategy announced by the government in the Digital Nepal Framework, 2019. The project will help improve high quality and affordable broadband services. It will support and secure the delivery of digital government services through improvements in Nepal’s data infrastructure and cyber security.

Faris Hadad-Zervos, World Bank’s Country Director for Maldives, Nepal and Sri Lanka, expressed confidence that this will enhance Nepal’s goal of promoting an inclusive and secure digital economy, and that this support will connect businesses to information, services and markets.

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