Nepal, World Bank sign mandate to explore earthquake catastrophe bond

Nepal ​and ​the World ‌Bank have ​signed a mandate agreement to ‌explore the development of a catastrophe bond that could help ‌the Himalayan nation access ‌funding quickly in case of a major earthquake, the World ⁠Bank ​said ⁠on Thursday.

"Under the agreement, the ⁠World Bank Group Treasury ​will work with the Government of ⁠Nepal and market participants ⁠to assess ​the feasibility and potential structure of such ⁠a transaction," the World Bank said ⁠in ⁠a statement.