The World Bank has approved a $22.56 million loan to finance telecom reforms. The bank's investments in Nepal had come to a virtual standstill pending financial sector reforms, especially the inability of government to bring in external firms to manage the Nepal Bank Ltd and the Rastriya Banijya Bank on schedule. The telecom loan is a way of recognising more successful efforts at liberalisation, including establishing an independent regulator. The money is to be used to strengthen the regulatory capability of the Nepal Telecommunication Authority and provide capital subsidies to private companies that will deliver telecom services to 534 rural communities.