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Nepal government and the World Bank today exchanged the digitally-signed financing agreements for a $100m concessional loan from the International Development Association and a $3.84m grant from the Health Emergency Preparedness and Response Trust Fund to strengthen the quality, coverage, and resilience of Nepal’s health system. 

These agreements were digitally signed on 27 Oct 2023. This is the first World Bank-financed project in Nepal that was digitally signed. The agreements for the Nepal Quality Health Systems Program Operation were signed by Finance Secretary, Krishna Hari Pushkar and the World Bank Country Director for Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos.

The agreements were exchanged in the presence of Honorable Minister of Finance, Prakash Sharan Mahat, World Bank Managing Director for Operations, Anna Bjerde, and World Bank Vice-president for South Asia, Martin Raiser. The program will be implemented by the Ministry of Health and Population in coordination with the Health Insurance Board at the federal level, and selected provincial and local levels in Koshi and Gandaki provinces.

The program emphasizes improving the readiness of the health system for delivery of quality healthcare, enhancing coverage of health insurance, and strengthening health emergency preparedness and response capacity at the selected provincial and local levels.

“Quality healthcare serves as the cornerstone of human capital development. The comprehensive reform agenda set forth by the Nepal Quality Health Systems Program Operation will be pivotal in enhancing access to high-quality healthcare services,” said Krishna Hari Pushkar, Finance Secretary.

“We are committed to work with the government to build a resilient and inclusive public health system in Nepal that protects vulnerable populations and contributes to improved productivity and strong human capital development, which is fundamental to sustainable economic growth,” said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka.

The price of gold has increased by Rs 200 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 115, 900 per tola today. It was traded at Rs 115, 700 per tola on Thursday.

Meanwhile, tejabi gold is being traded at Rs 115, 350 per tola.

Similarly, the silver is being traded at Rs 1,390 per tola today.

The Indian government, which has banned the export of sugar, has now allowed Nepal to import up to 25,000 metric tons of sugar.

A meeting of the Agriculture Ministry held recently decided to export sugar equal to that quantity to Nepal.

Earlier, the Nepali market had been facing a shortage of sugar due to the ban imposed on sugar by India.

India, the world’s largest sugar producing country, had stopped exporting sugar to other countries citing decrease in the production.

India had banned the export of sugar for the past three-four months.

“We have expected that there will be an easy supply of sugar in the market leading to the end of black marketing,” Tartharaj Chiluwal, Director General at the Department of Commerce Supply and Consumer Protection, said. “Now, there will not be an acute shortage of sugar in the market. Once the sugar is exported to Nepal, it will be enough for three months.”

Nepal needs 300, 00 metric tons of sugar annually. At least 150, 000 metric tons of sugar is produced in Nepal.

The Nepal Stock Exchange (NEPSE) plunged by 10. 86 points to close at 1,847.70 points on Thursday.

Similarly, the sensitive index dropped by 2. 19 points to close at 357. 76 points.

A total of 3,749,954-unit shares of 281 companies were traded for Rs 964 billion.

Meanwhile, Chandragiri Hills Limited was the top gainer today with its price surging by 6. 04 percent. Likewise, Sayapatri Hydropower Limited was the top loser as its price fell by 10. 90 percent.

At the end of the day, the total market capitalization stood at Rs 2. 84 trillion.