Nepal: Supporting Inclusive and Accelerated Growth
Abstract
Description
ADB has strongly supported inclusive growth in Nepal, helping to reduce poverty, decrease gender and social disparities, build infrastructure, develop human capital, transform agriculture, and mitigate climate change effects.
Poverty in Nepal is largely a rural phenomenon, which is closely associated with limited access to finance. Only 34% of Nepal’s total population had access to formal financial services in 2014. Nepal was a founding member of the Asian Development Bank (ADB) in 1966. Over the years, ADB has provided assistance in several sectors, including infrastructure development, agriculture, transport, energy, water and sanitation, urban development, and education. ADB has consistently promoted gender equality and social inclusion in development, and is putting more efforts into building institutional capacity at all levels, including local governments. Climate change mitigation and environmental safeguards and good governance form part of all ADB supported projects and programs in the country.