Nepal: Asian Development Bank Member Fact Sheet 2018 Updated

Abstract

Nepal has made notable economic and social progress in recent years: literacy rates have increased, poverty rates have declined, and gender disparities have narrowed. Nepal aims to achieve the Sustainable Development Goals by 2030. However, poverty is still high in rural areas and among socially disadvantaged groups. Nepal moved to a federal system of government after the promulgation of its constitution in 2015. In 2017, the country’s first-ever elections at the federal, provincial, and local levels were held successfully. The federalization process has devolved powers and responsibilities among 7 provinces and 753 local governments.