Migration, remittances inflow key factor behind poverty reduction in Nepal: World Bank

Kathmandu, March 24: The World Bank (WB) has stated that Nepal has achieved remarkable success in reducing poverty over the past three decades, virtually eradicating extreme poverty, and the speed and scale of Nepal’s success in this efforts are unparalleled among its peers.

The key factor behind the poverty reduction and resilience in the wake of shocks has been migration and the inflow of remittances, the World Bank’s Nepal Country Economic Memorandum: Unlocking Nepal’s Growth Potential released today mentioned.