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Rs 30 Billion Invested on Financial Literacy

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September 15: The World Bank has provided Rs 30 billion so far to help improve the financial literacy of Nepal. The World Bank provided Rs 7 billion to Nepal between 2000 to 2009 to this end, informed Nara Bahadur Thapa, executive director at the research department of Nepal Rastra Bank.

Besides, Asian Development Bank has also provided Rs 15 billion for financial literacy. Thapa admitted that although such a large amount was invested for awareness campaigns and trainings in order to achieve financial literacy, they have not been able to meet their target as expected.

“We cannot improve the financial literacy of Nepal by seeking for foreign support always. Therefore, the banks and financial institutions should take the initiative,” said Thapa.

Speaking at the closing ceremony of a seven-day banking training organized by Media International in the capital on Thursday, September 14, Thapa highlighted the importance of financial literacy and shed light on the support received so far by the government in this regard.

According to Thapa, 34 percent population of Nepal have access to banking services while only 18 percent of the total population is financially literate.  

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