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CDC Group (soon to become British International Investment), the UK’s development finance institution, has announced a US $25 million loan to Global IME Bank Ltd (“GIME”), one of the largest commercial banks in Nepal. CDC’s commitment will enhance GIME’s ability to provide credit to businesses across key economic priority sectors and stimulate economic opportunities throughout the country.

The facility will also help address funding gaps in the market by strengthening GIME’s capacity to increase lending to businesses in key economic sectors, such as infrastructure, construction, manufacturing, agriculture, and tourism. This much-needed capital will enable the Bank to offer financial support to more businesses, enhancing their ability to navigate post-covid recovery and create jobs that will facilitate sustained inclusive growth across all segments of society in Nepal.  

Moreover, the loan will amplify GIME’s plans to broaden its offer to key sectors, including renewable energy and tourism sectors, classified by the Government of Nepal as priority sectors for the country. The Bank’s goal to provide local and foreign currency longer-term lending to businesses within these sectors and others, aligns with CDC’s ambition to increase green finance and help scale clean energy and infrastructure projects across its markets, including in key countries like Nepal. 

The DFI’s commitment to GIME forms part of its strategy to bring the best of British finance to help accelerate productive, sustainable, and inclusive opportunities in market shaping sectors that create jobs and usher in transformative positive impact in Nepal and throughout the wider region. CDC’s commitment to Nepal is demonstrated by its investment in the country’s leading internet provider WorldLink, as well as its commitment to NMB Bank and the Upper Trishuli-1 Hydroelectric Project. This year, the DFI invested in Nepal-focussed Dolma Fund II and partnered to launch the Nepal Invests market building platform, aimed at accelerating foreign direct investment into the country.

Swami Vivekananda Cultural Centre, Embassy of India, Kathmandu in collaboration with Hotel Aloft Kathmandu organized Azadi ka Amrit Mahotsav Indian Food Festival named ‘Flavors of Kashmir’ on 10 December 2022. 

The festival showcased authentic Kashmiri cuisine from India, with dishes being curated by Indian Celebrity Chef, Sanjay Raina.

The  ‘Flavours of Kashmir’ festival was inaugurated by Mr. Vinay Mohan Kwatra, the Ambassador of India to Nepal. 

The food festival will be held from December 10-19 at Hotel Aloft in Thamel, Kathmandu. Known throughout India and the world as ‘Paradise on Earth’, Kashmir is blessed not only with natural beauty, but also a heritage of divine cuisine. 

A wide spread of delightful delicacies are available in the festival. Embassy in a press statement said: “The event was organized as part of ‘Azadi Ka Amrit Mahotsav’, an initiative of the Government of India to celebrate and commemorate 75 years of India's independence.”

Gautam Devi Gharti, a recipient of the senior citizen allowance, collected Rs. 13,500 from her Social Security Allowance (SSA) bank account, as a multi-purpose cash relief for the October 2021 Karnali flood. For the first time in Nepal, the Social Protection system has been used to provide disaster relief.

The Nepal Red Cross Society (NRCS) in partnership with Tikapur and Janaki municipalities in Kailali district, was able to distribute multi-purpose cash to 111 individuals last week. They each were sent an SMS on their mobile phone informing that cash had been deposited into their SSA bank account as a relief assistance.

The support was provided to persons with disabilities in Tikapur, and to all SSA recipients in Janaki, who were affected by the flood. With financial support from the European Union and technical support from the Danish Red Cross, the NRCS has been working to find ways of using the Social Protection system to reach at-risk communities at the earliest, and possibly even before a disaster strikes.

As a result, the SSA was used to identify and communicate with flood affected SSA beneficiaries and quickly provide them with cash relief to help them through a tough time. 

The salience of mental health for one’s overall health has only grown during the pandemic. The forced isolation during the pandemic made problems worse for those suffering from different mental health issues–and also produced countless first-time sufferers. Recent surveys suggest that as many as 60 percent of those aged 18-40 suffered from one or the other mental health problem during the pandemic. We as a country need to tackle this problem–and soon. ApEx recently organized a roundtable discussion on the topic, with the intent of ferreting out the most prevalent mental health issues among Nepalis and to understand what it could do to bring greater awareness and relief. Here are excerpts from the roundtable.   

Nishma Chaudhary, Cofounder, My Sirani

Since the start of the pandemic in particular, technology has contributed to many mental health problems. People are now spending a lot of time on their gadgets, lost in their own world. With excessive use of social media, many have even lost the ability to communicate properly in person. We need a positive social orientation on how we can make the best use of technology. For instance, technology has helped with online psychological counseling. In itself, technology is not good or bad. It is the people who make it so. 

Kapil Sharma, Counseling psychologist, Hudec Nepal

Around a percent of the national health budget is currently allocated to mental health. But that is just one issue. We also need to speak out about the government’s role in different sectors for the betterment of people’s mental health. If the state can take a stand, there can be better awareness and education on mental health. Along with that, there is the need to normalize the conversation on mental health, and to avoid using sensitive words and be empathetic and accepting.

Bhawana Shrestha, Cofounder, My Emotions Matter

Today, teenagers and young adults have multiple issues with their parents. The parents’ expectations are high. It is not uncommon for children to simply wilt under this pressure. We need to encourage and spread awareness among older generations to support their child’s mental and emotional health, their need for counseling, or any sort of support system they need to help them take care of themselves. 

Dr Rishav Koirala, Psychiatrist, Grande Hospital

Depression, anxiety and stress are some of the most common problems I've noticed among the youth. The pandemic only made them worse. It tested people’s coping mechanisms and increased their sense of isolation. We need to educate ourselves on the importance of taking care of our mental health and reaching out to others when things are not going well. Along with psychologists, psychiatrists and counselors, we need more educators, advocates and enthusiasts who can spread the word. It is okay to talk and share about mental health problems, and to understand that every problem has a solution.

Shreeya Giri, Founder and Managing Director of Happy Minds

The absence of assertive communication is a major cause of mental health problems. In many cases, the lockdown helped build a barrier between children and their parents. Children aren't able to share what they are going through with their parents. This is causing them to be very reserved. The stigmatization is still there, and the practice of seeking help is still not normalized in many families. We need to advocate for change in our roots first. It will be hard to have a healthy frame of mind unless we learn to assertively express our thoughts and feelings