Nepal and World Bank sign $150m CAT-DDO loan for disaster management after floods and landslides.

Nepal and the World Bank have inked a $150 million concessional loan agreement aimed at disaster management through the Catastrophe Deferred Drawdown Option (CAT-DDO). This funding will assist with recovery and reconstruction following recent devastating floods and landslides that resulted in 391 deaths and widespread displacement. The agreement was signed during the World Bank Group's annual meetings in Washington, focusing also on job creation and infrastructure improvements in Nepal.

October 24, 2024
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