November 18: The Government of Nepal and 16 development partners have agreed to enhance financing and technical assistance, focusing on Nepal’s Green, Resilient, and Inclusive Development (GRID).

A joint communique endorsing the operationalization of Nepal’s GRID Strategic Action Plan was issued at a high-level event led by the Ministry of Finance, with support from the World Bank and other partners.

During the event, stakeholders, including the government, development partners, civil society, private sector, and think tanks, reaffirmed their commitment to working collaboratively across institutional and sectoral boundaries to finance and implement Nepal’s GRID priorities.

Dr. Prakash Sharan Mahat, Honorable Finance Minister said, "Nepal has embraced the GRID approach to foster a greener, more resilient, and inclusive economy. The new GRID Strategic Action Plan can accelerate growth, job creation, and sustainable prosperity for the Nepali people."

External financing for the GRID Strategic Action Plan includes grants, concessional financing, and innovative finance mechanisms like carbon finance. This funding is designed to complement Nepal’s public budget and leverage foreign and domestic private sector investment.

The GRID Strategic Action Plan outlines ten priority actions, including sustainable management of land, water, and forests, development of resilient infrastructure and ecosystems, enhancement of skills for resilient livelihoods, greening urban development, and scaling up renewable energy and water supply.

 Other priorities include addressing air pollution, managing solid waste, strengthening disaster risk management, and enhancing social protection and health systems.

Anna Bjerde, World Bank Managing Director for Operations, stated, "The World Bank is proud to support Nepal in advancing towards a more sustainable, resilient, and inclusive economy”.

 Nepal’s GRID approach focuses on quality development that reduces poverty, narrows inequalities, protects the environment, and ensures resilience.

The investment priorities outlined in the GRID Strategic Action Plan aim to capitalize on Nepal’s development successes, promoting on-the-ground actions, mobilizing private sector investment, and fostering sustainability, resilience, and inclusion simultaneously.

This strategic approach is anticipated to generate more jobs, enhance the resilience of livelihoods, and contribute to environmental, climate, water, and food security, fostering a more inclusive and durable economy.