Kathmandu: The Asian Development Bank (ADB), the International Development Association under the World Bank Group, and the Swiss Development Cooperation (SDC) have announced their commitment to support disaster risk reduction, climate change adaptation, and resilient infrastructure development efforts in Nepal. This initiative marks a significant step towards addressing the pressing climate-related vulnerabilities in the region.
According to National News Agency Nepal, the three donor agencies have formalized their collaboration by signing a memorandum of understanding (MoU) for a period of three years. This agreement underscores the importance of focusing on climate-related risk assessment, strengthening information systems, and enhancing climate risk management. The agencies recognize the critical need for such assistance, given Nepal’s susceptibility to climate-induced challenges, including floods, landslides, droughts, and the melting of glaciers.
The World Bank office in Nepal has expressed confidence that the collaboration between ADB, the International Development Association, and SDC will significantly contribute to Nepal’s economic development. The strategic partnership aims to bolster the country’s resilience against climate-related impacts, ensuring sustained progress in infrastructure development and risk mitigation.