According to a press release issued on Tuesday, Finance Secretary Shanta Raj Subedi and Tahseen Sayed, country manager for World Bank, signed the agreement.
NAFSP, which targets to support poorest and vulnerable people from the mid and far-western region, covers $ 46.6 million. [break]
"The project is designed to improve food and nutrition security as well as livelihood opportunities," reads the release.
Similarly, remaining $31 million goes to BRCH project that aims to transition Nepal´s hydro-meteorological services into a modern service-oriented system that will build resilience today as well as adaptive capacity for the future. "It intends to enhance government capacity to mitigate climate related hazards by improving the accuracy and timeliness of weather and flood forecasts for disaster preparedness by the general population and warnings for climate-vulnerable communities," said the release.
Recognizing the high levels of exposure to climate change risks, the Climate Investment Funds (CIF) selected Nepal as one of nine pilot countries for the Pilot Program for Climate Resilience (PPCR) in 2009. The World Bank is an implementing agency of CIF.
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