The World Bank (WB) on Wednesday announced 50 million U.S. dollars grants to support the peace process in Nepal, local newspaper The Himalayan Times reported on Thursday.
To support efforts to consolidate the November 2006 Comprehensive Peace Accord (CPA), the fund will be used to pay compensation for families of 13,000 killed during the insurgency and for the allowances of around 20,000 former guerrillas of the Communist Party of Nepal (Maoist) (CPN-M) who have been confined to UN monitored camps, the World Bank press release stated.
As part of the peace process, the Seven Party Alliance-government has authorized payments of 100,000 Nepali rupees (around 1,500 U.S. dollars) each to the families of the war deceased. It has also authorized payment of 3,000 rupees (around 46 U.S. dollars) per month to approximately 19,600 verified CPN-M fighters in cantonments, including arrears on these payments that have built up over the past ten months. In addition, the project will also help Nepal pilot reintegration initiatives.
"In this pivotal moment in Nepal's history it is important to take concrete steps to consolidate the peace process and to ensure that development and service delivery are scaled up," said Susan Goldmark, World Bank country director for Nepal.
In addition to the 50 million U.S. dollars for emergency peace support, the World Bank has also approved other funding for the health and water sectors totaling 77 million U.S. dollars, stated the bank's press note.
The World Bank has financed four projects worth 252 million U.S. dollars within the last 10 months and is planning three more new projects worth 127 million U.S. dollars, according to the report.
Source:Xinhua
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