IFC, Partners Lend $450m to Support Major Hydro-Electric Plant in Nepal
IFC, a member of the World Bank Group, and a consortium of other lenders today finalized a $453 million debt financing package that will support the construction of a landmark…
New 7.3 Earthquake Hits Nepal; Kathmandu Residents in Panic
NEPAL – Residents in Nepal’s capital city of Kathmandu went into panic Tuesday as a strong earthquake, measuring 7.3 in magnitude, struck the Nepal-Tibet border, the US Geological Survey announced.…
Initial Economic Impact of Nepal Earthquake Could Reach USD5 Billion
NEPAL – Nepal’s devastating earthquake is expected to result to economic losses of as high as USD5 billion, more than double previous estimates of USD2 billion and equal to 25…
Economic Losses in Nepal Could Reach $2 Billion
NEPAL – As rescuers scramble against time to rescue those who are still trapped inside collapsed buildings in Nepal, economists said the massive earthquake that hit the country last Saturday…
Global Insurers Assessing Nepal Earthquake Loss
NEPAL – Global insurers and reinsurers with presence in Nepal are sending their teams to assess the damages brought about by the massive earthquake that struck the nation last Saturday.…
Philippines Sending Team to Earthquake-Hit Nepal
MANILA, PHILIPPINES – The Philippine government is sending a team from the Philippine embassy in New Delhi to Nepal to address the needs of Filipinos affected by the earthquake, President…
Strong Nepal Earthquake Kills At least 700; Death Toll Rising
NEPAL – Rescuers race against time to save those who are still trapped underneath rubble of collapsed buildings in Kathamandu following a devastating 7.9 magnitude earthquake that rocked Nepal Saturday.…