KATHMANDU: The Asian Development Bank (ADB), the International Development Association (IDA) under the World Bank Group, and Swiss Development Cooperation (SDC) have agreed to collaborate on disaster risk reduction, climate change adaptation, and resilient infrastructure development in Nepal.
The three donor agencies signed a memorandum of understanding (MoU) on Wednesday to provide assistance over the next three years, according to the World Bank’s office in Kathmandu.
As part of the trilateral agreement, priority will be given to climate risk assessments, strengthening information systems, and improving climate risk management in Nepal.
Nepal, which faces various climate-related risks including floods, landslides, droughts, and glacial melt, urgently needs such support, the World Bank office stated in a press release. The agencies expressed confidence that the assistance would contribute to Nepal’s economic development.
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