With 189 member countries, staff from more 170 countries, and offices in over 130 locations, the Investment to gdp ratio india Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development.
We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Nepal’s past economic performance, current challenges and prospects ahead. Nepal’s recent history of development is marred by a paradox. Many countries in the world have experienced rapid growth but modest poverty reduction, as income has increasingly concentrated in the hands of the wealthy.
Nepal, however, has the opposite problem—modest growth but brisk poverty reduction. The country has halved the poverty rate in just seven years and witnessed an equally significant decline in income inequality. Unfavorable starting conditions have meant that Nepal’s development path was never going to be easy. First, historical and natural endowments make development challenging. The country’s geography—landlocked externally and challenging topography internally—represents a natural barrier to its development. Its history of extractive political regimes left Nepal with extremely low levels of physical and human capital and illiteracy rates of 90 percent in 1951. Challenging development constraints have been further compounded by unsupportive policy choices.