Nepal Seeks World Bank Loan to Combat Air Pollution
Nepal's government is negotiating a loan from the World Bank to fund a project aimed at reducing air pollution, despite having raised significant taxes on fossil fuels over the past 16 years.
The proposed Nepal Clean Air and Prosperity Project, valued at 20.8 billion rupees ($147.9 million), aims to help industries reduce emissions, strengthen air pollution control mechanisms, and improve emergency response.
“With regard to the loan size, the amount is being finalized with the government based on the cost of the detailed project activities,”
said Akash Babu Shrestha, a spokesperson for the World Bank in Nepal.
The project seeks to address air pollution in Nepal by building government capacity and supporting industries in reducing their emissions.
Author's summary: Nepal seeks loan to combat air pollution despite hefty taxes.