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Remittances Provide Temporary Cushion to Nepal’s Troubled Economy

At a time when the world economy was hard hit by the ongoing pandemic, improvement in Nepal’s remittances inflow has made it easier for the government to operate.

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Banking Sector Deposits NPR 280 Million in COVID-19 Fund After Central Bank Directive

As per revised unified directives, banks and financial institutions can also contribute the fund to protect and treat their employees.

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Survey Reveals Extent of the Fallout From the Pandemic on Micro, Small and Medium Enterprises in Nepal

Based on a sample of more than 540 representatives from MSMEs across all provinces, the survey revealed that over 80 percent of businesses have suffered from a slump in sales.

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Undocumented Migrant Workers To Get Government Support for Returning Home

All the government repatriation schemes had excluded undocumented migrant workers, leaving them to languish in COVID-19 hit labor destination countries.

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Defying Predictions, Nepal’s Remittances Still High

Despite dire predictions about a drastic drop in remittances that Nepal gets from its workers abroad due to the COVID-19 induced economic downturn, money transfers have remained steady. 

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New SCBF Project: First-Of-Its-Kind Digital Tele-Medicine and COVID-19 Insurance Product in Nepal

​​​​​​In response to COVID-19, the new SCBF product upscaling project supports a local insurtech company to implement a first-of-its-kind e-health value added service product with two core features: e-health tele-consultation bundled with COVID-19 insurance.

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Nearly 5,000 Nepali Workers Apply to Return Home on Government Support

Nepali missions abroad are verifying applicants’ status before recommending their names to the government to provide them airfare from Migrant Workers Welfare Fund.

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Supporting Nepal’s Migrants, as Overseas Work Dries Up

Since the economic slowdown resulting from the COVID-19 pandemic, work for many of them has dried up. The UN is supporting efforts to manage the large-scale influx of returnee workers.

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Nepal: Strategies for Post-COVID-19 Recovery Amidst Falling Remittances

Nepal, where remittance contribution to GDP in 2019 was equivalent to 27.3 percent, according to the World Bank, has lost nearly 50 percent of remittances in the past two months compared to the same period last year.

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Nepal’s Remittance-Dependent Economy Braces for Upheaval Amid COVID-19 Pandemic

The government’s decision to stop issuing permits to migrant workers will have significant consequences for the country, where economic activities are driven by remittances, experts say.