Nepal Government and the World Bank signed a grant agreement of US$75 million in additional financing for the Poverty Alleviation Fund (PAF).


The agreement was signed by Lal Shanker Ghimire, Joint Secretary and Chief of the Foreign Aid Coordination Division, Ministry of Finance and Andras Horvai, World Bank Acting Country Manager for Nepal.


“The Poverty Alleviation Fund has helped improve living conditions, livelihoods and empowerment among the rural poor, particularly those who are disadvantaged due to gender, caste, ethnicity or physical isolation,” said Ellen Goldstein, the World Bank Country Director for Nepal and Bangladesh. “2.65 million Nepalis, or close to a tenth of the population, are directly benefiting from the program”.