Nepal’s banking sector sensitized on implementing National Building Codes (NBCs)Jul 21, 2014
UNDP’s Comprehensive Disaster Risk Management Programme (CDRMP) under the leadership of Nepal Bankers’ Association organized a workshop on the role of Banking and Financial Institutions (BFIs) in Building Code implementation in Nepal on July 21, 2014. The workshop was aimed at sensitizing the participants on the importance of NBC implementation and in disseminating the recent directives of Nepal Rastra Bank (NRB) to all the BFIs on code-compliant housing investment.
Currently, BFIs are not required to comply with National Building Code (NBC) while approving loan to their clients. This simply means a majority of the investment in the construction business is at high risk and this can result into collapse of banks and financial institutions in case of any major disaster.
The workshop brought together 60 participants mostly top officials of BFIs, I/NGOs, and government agencies. Governor of NRB, secretaries from Ministry of Urban Development (MoUD) and Ministry of Federal Affairs and Local Development (MoFALD) were present at the workshop. UNDP Deputy Country Director Ms. Sophie Kemkhadze also participated and delivered on NBC implementation.
During the workshop, Mr. Purna Kadariya, the Team Leader of Center of Resilient Development (CoRD), Mr. Sagar Joshi from the Department of Urban Development and Building Construction (DUDBC) and Mr. Hari Darshan Shrestha from CoRD presented on the Acts and Regulations related to NBC implementation, on updates of NBC implementation and on international practices of BFIs on building code implementation respectively.
The workshop was successful to have a wider consultation of stakeholders in forging a common understanding and in find tangible solutions to reducing risky investment in vulnerable buildings. There was commitment from all the representatives of financial and insurance associations to invest in safer housing investment to protect life and property of the citizens.