Foreign Investment in Nepal: A Sign of a Stabilized Nation
Written by Cameron Custance
Since the beginning of 2013, Norway has been investing over 33 million USD a year into the development on Nepal. Norway’s primary focus is in the areas of energy, education, good governance, and gender equality. About 25% of Nepal’s gross national product comes from Nepalese workers abroad and is attributed to most of the country’s yearly growth.
Norway has partnered with Nepal’s goal of becoming a middle income country by 2022 through investment in infrastructure and education.
The Norwegian agency for Development Cooperation states that “In 2013, 16,000 households gained access to electricity from micro power plants. In addition, 98,000 households received electricity from solar cell systems. The cooperation also contributed to the installation of 87,000 improved wood-burning stoves and 24,000 biogas systems.”
The main area of investment, twice the size of energy aid, is in the area of education. This accounts for 14.5 million USD in yearly development.
Norway’s aim is to provide free primary school with gender equality in mind over the next 7 years. Furthermore, they are rebuilding schools that were destroyed in the 2014 Gorkha earthquake.
There were 22 schools in total that were devastated from the earthquake and just last week they finished rebuilding school number 12, a project totaling 300 thousand USD.
With the government stabilizing in the past couple years and foreign aid and investment in major industries, things seem to be on the up and up for a small land locked nation inbetween two of the most populous nations in the world.
For more information on Norway’s involvement in Nepal click here.