WB grants $50m

Kathmandu, May 7:

The World Bank (WB) today announced $50 million grants to support the peace process.

To support efforts to consolidate the November 2006 Comprehensive Peace Accord, 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 Maoist former guerrillas confined to UN monitored camps, the World Bank press release stated.

As part of the peace process, the Seven Party Alliance-government has authorised payments of Rs 1,00,000 each to the families of the war deceased. It has also authorised payment of Rs 3,000 per month to approximately 19,600 verified Maoists fighters. In addition, it 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, WB country director for Nepal.

As a part of the peace deal, families are to receive around $1,500 for each relative killed and the former fighters in the UN-monitored camps are supposed to receive an allowance of $46 per month.

In addition to the $50 million for emergency peace support the World Bank haa also approved other funding for the health and water sectors totalling $77 million, stated the bank’s press note.