European Bank announces Rs.89.21bn package for South Asian countries including Nepal

The Board of Directors of the European Investment Bank (EIB) has approved plans to strengthen its global development engagement.

It has allocated £647 million(NPR 89.21 billion)  for COVID vaccine deployment, health and education for Netherland, Argentina and South Asian countries Nepal, Bhutan, Maldives, Bangladesh and Srilanka.

Building on the European Investment Bank’s backing for COVID vaccine development and deployment new programmes to finance purchase of COVID-19 vaccines for distribution in Argentina and across South Asia, including Bangladesh, Bhutan, Nepal, Sri Lanka and the Maldives were confirmed.

The Board decided to support  the expansion of long-term care for disabled patients in the Netherlands, the roll-out of digital learning technology in primary and secondary schools and upgrading scientific research in Croatia was also agreed.

It also approved €4.8 billion of new financing for 24 projects to support climate action, COVID vaccines and economic resilience, sustainable transport and education.

“In June the Council of Ministers asked the EU Bank to enhance its contribution to the Union’s development efforts through dedicated strategies, stronger presence on the ground globally, and better co-ordination with partners in a genuine Team Europe approach.



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