Cabinet approves concessional loan of Rs 35 billion from World Bank
KATHMANDU, Sept 13: The government has approved Rs 35 billion (275 million USD) concessional loan to be provided by the World Bank. The loan would be spent on the transportation and trade connectivity promotion programme.
KATHMANDU, Feb 1: The government has decided to accept the concessional loan amounting to USD 150 million from the World Bank.
A talks team has been formed to proceed ahead with the loan procuring process to be provided to Nepal under the ‘Finance for Growth Development Policy Credit’.
Unveiling the decision of the Cabinet meeting convened on January 31, Minister for Communication and Information Technology Gyanendra Bahadur Karki shared it here today.
The meeting also decided to waive fees for deposit and permit to the expedition team of the Nepali Army. The decisions include granting approval in principle to the Ministry of Education, Science and Technology to start the process to establish a hospital for the teachers.
The government decided to declare a public holiday all over the country on February 2 on the occasion of Sonam Lhosar, informed Minister Karki. As per the decision, former chairperson of Nepal Press Union Samir Jung Shah would have been appointed the Chairperson of the Nepal Television for a maximum of a four-year term.
Prof Dr Shilu Manandhar has been appointed as the vice-chancellor of the Nepal Open University. Joint-Secretary Ramesh Dangal has been promoted as the secretary of the government. Jurisdiction has been determined for the Land Revenue Office and Office of Survey, according to Karki.
The meeting also fixed the minimum price of unprocessed milk at Rs 56.4 per liter.
The Government of Nepal has formed a negotiating team to obtain a concessional loan of USD 150 million (approximately Rs 17 billion) from the World Bank for Growth and Development.
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