• About
  • Advertise
  • Privacy & Policy
  • Contact
  • Our Team
Sunday, June 29, 2025
  • Login
Metakhabar
  • Home
  • News
    Government committed to promoting agricultural production: Minister Adhikari

    Government committed to promoting agricultural production: Minister Adhikari

    Butwal-Narayangadh road completely blocked

    Butwal-Narayangadh road completely blocked

    PM Oli arrives in Madrid

    PM Oli arrives in Madrid

    Three persons, including father and daughter die in a motorbike accident

    Three persons, including father and daughter die in a motorbike accident

    Fulfilling aspirations for development, prosperity is true tribute to martyrs: President

    President extends best wishes on National Paddy Day

    Minister Yadav pledges initiatives for resolving water supply problem in Dharan

    PM’s message on National Paddy Day

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Auto
  • International
  • Business
  • Entertainment
    International Jazz Day today

    International Jazz Day today

    Black-breasted Thrush recorded second time in Nepal

    Black-breasted Thrush recorded second time in Nepal

    Weather to remain fair in most parts of country

    Weather to remain mainly fair throughout country

    Sunar enters his name in Guinness Book 20th time

    Sunar enters his name in Guinness Book 20th time

    14th Nepal Festival in Tokyo today

    14th Nepal Festival in Tokyo today

    NPL 2024. a likely game changer for Nepali cricket

    NPL 2024. a likely game changer for Nepali cricket

  • Sports
  • नेपाली
No Result
View All Result
  • Home
  • News
    Government committed to promoting agricultural production: Minister Adhikari

    Government committed to promoting agricultural production: Minister Adhikari

    Butwal-Narayangadh road completely blocked

    Butwal-Narayangadh road completely blocked

    PM Oli arrives in Madrid

    PM Oli arrives in Madrid

    Three persons, including father and daughter die in a motorbike accident

    Three persons, including father and daughter die in a motorbike accident

    Fulfilling aspirations for development, prosperity is true tribute to martyrs: President

    President extends best wishes on National Paddy Day

    Minister Yadav pledges initiatives for resolving water supply problem in Dharan

    PM’s message on National Paddy Day

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Auto
  • International
  • Business
  • Entertainment
    International Jazz Day today

    International Jazz Day today

    Black-breasted Thrush recorded second time in Nepal

    Black-breasted Thrush recorded second time in Nepal

    Weather to remain fair in most parts of country

    Weather to remain mainly fair throughout country

    Sunar enters his name in Guinness Book 20th time

    Sunar enters his name in Guinness Book 20th time

    14th Nepal Festival in Tokyo today

    14th Nepal Festival in Tokyo today

    NPL 2024. a likely game changer for Nepali cricket

    NPL 2024. a likely game changer for Nepali cricket

  • Sports
  • नेपाली
No Result
View All Result
Metakhabar
No Result
View All Result
Home Auto

UNDP launches Insurance and Risk Finance Initiative for Nepal

Metakhabar by Metakhabar
March 20, 2024
in Auto, Featured-news, News, Society
0
UNDP launches Insurance and Risk Finance Initiative for Nepal
0
SHARES
14
VIEWS
Share on FacebookShare on Twitter

Kathmandu, March 20: The United Nations Development Programme (UNDP) Nepal has launched the Insurance and Risk Finance Initiative for Nepal.

It is part of UNDP’s global initiative, the Insurance and Risk Finance Facility (IRFF), which is being implemented in over thirty countries. This initiative seeks to prioritize financial resilience by tapping into the benefits of insurance and risk financing mechanisms, the UNDP Nepal stated in a press release.

During the launching event on 19 March, the Country Diagnostic Report was unveiled by Dr. Ram Prasad Ghimire, Revenue Secretary of the Ministry of Finance (MoF), Anil Pokhrel, Chief Executive Officer of the National Disaster Risk Reduction and Management Authority (NDRRMA), and UNDP’s Resident Representative, Ms. Ayshanie Medagangoda-Labé.

The Report states that Nepal’s disaster landscape is impacted by earthquakes, floods, landslides, and droughts, which collectively have caused almost USD 7 billion in damages from 1980 to 2020. These disasters have affected the country’s capacity to build financial resilience in the face of looming disasters.

The Government of Nepal has spent NPR 50 billion (0.4 billion USD) between 2012 and 2020 in disaster response and recovery. The expenditure data indicates that this is not financially sustainable in the long run, which demands the development of risk transfer solutions.

The diagnostic highlighted that Nepal is one of the top ten countries most affected by climate change and is highly vulnerable to floods, landslides, earthquakes, and droughts. The report also showcases that the Government of Nepal is committed to fostering the insurance industry’s ability to provide accessible and affordable insurance products, as evidenced by recent legal updates such as the Insurance Act 2079, which contains several microinsurance provisions.

While credit-life microinsurance and agriculture insurance offer financial protection to low-income and vulnerable Nepali households, the overall inclusive insurance market is still lagging due to low awareness about insurance and data gaps that prevent insurance companies from offering products that meet the needs of customers.

Dr. Ram Prasad Ghimire, Revenue Secretary at MoF, reiterated the government’s commitment to delivering risk finance solutions, mentioning that the government has already initiated the development of a Risk Management Framework.

Anil Pokharel, CEO of NDRRMA, highlighted the importance of collaboration between the government, development partners, and the private sector to address increasingly frequent and complex climate and disaster risks.

Meanwhile, Ms. Ayshanie Medagangoda-Labé, UNDP Resident Representative, stated, “Insurance and risk financing are among the solutions that can contribute to strengthening a comprehensive risk management approach for any country and community. We need to tap into the insurance market opportunities, leaving no one behind.”

The Initiative will work closely with government partners such as the Ministry of Finance, Nepal Insurance Authority and National Disaster Risk Reduction and Management Authority to improve legal and regulatory environment for insurance to be better incorporated in risk management priorities and actions.

It will also work with the insurance industry to identify the financial protection needs of vulnerable groups such as women, farmers and businesses and facilitate the offer of customer-centric insurance products. UNDP will work more broadly with other development actors also pushing for financial resilience to further advocate and make the case for insurance as a key ingredient in managing shocks and fast-tracking recovery.

Tags: #Insurance and Risk Finance Initiative for Nepal#UNDP#United Nations Development Programme
Previous Post

137 industries in Kailali closed due to raw material shortage

Next Post

Farmers receive improved species of maize seeds on subsidy

Metakhabar

Metakhabar

Next Post
Farmers receive improved species of maize seeds on subsidy

Farmers receive improved species of maize seeds on subsidy

Please login to join discussion
Government committed to promoting agricultural production: Minister Adhikari
Featured-news

Government committed to promoting agricultural production: Minister Adhikari

by Metakhabar
June 29, 2025
0

Patan (Lalitpur), June 29: Minister for Agriculture and Livestock Development, Ramnath Adhikari, has said the government is committed to delivering...

Read more
Butwal-Narayangadh road completely blocked

Butwal-Narayangadh road completely blocked

June 29, 2025
PM Oli arrives in Madrid

PM Oli arrives in Madrid

June 29, 2025
Three persons, including father and daughter die in a motorbike accident

Three persons, including father and daughter die in a motorbike accident

June 29, 2025
Fulfilling aspirations for development, prosperity is true tribute to martyrs: President

President extends best wishes on National Paddy Day

June 29, 2025

Aanjan Media Private Limited Kathmandu, Nepal

Chairman

Dhiraj Paudel

Registration No:

3634-2079/80

Contact

01-4521648
metakhabar7@gmail.com

  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Our Team

© 2022 MetaKhabar

No Result
View All Result
  • Home
  • News
  • Tech
  • Entertainment
  • Lifestyle
  • Society
  • Auto
  • Education

© 2022 MetaKhabar

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In