KATHMANDU, DECEMBER 21
The government and the World Bank signed an $80 million (around Rs 9.3 billion) project today to bolster Nepal’s agriculture sector by strengthening rural market linkages and promoting entrepreneurship while creating jobs to support post-COVID-19 recovery.
The Rural Enterprise and Economic Development Project (REED) was signed by Finance Secretary Sishir Kumar Dhungana on behalf of the Nepal government and the World Bank Country Director for Nepal, Maldives and Sri Lanka, Faris Hadad-Zervos.
The project aims to facilitate productive partnerships between rural producer organisations and private-sector buyers to add value, create jobs and foster sustainable inclusion into, and development of, higher-value domestic and foreign value chains, as per a media release.
The project focuses on five economic corridors covering Provinces 1, 2, Bagmati, Gandaki, Lumbini and Sudurpashchim that offer opportunities for successful linkage activities of the rural entrepreneurs to be supported by the project. REED will work with provincial and local governments, intermediary or