ADB agrees to provide 13 billion concessional loan to Nepal
The government and the Asian Development Bank (ADB) today signed a concessional loan agreement for the implementation of Rural Connectivity Project-Additional Financing.
KATHMANDU: Prime Minister Pushpa Kamal Dahal 'Prachanda' has emphasized the need for the Asian Infrastructure Investment Bank (AIIB) to establish a policy framework for providing concessional loans to Nepal.
During a courtesy meeting with a delegation led by RMP Rathnaya
KATHMANDU, Nov 24: The Government of Nepal and the Asian Development Bank (ADB) signed an agreement for a concessional loan amounting to Rs 13.3 billion (USD 100 million) for the implementation of programmes of Public Finance Management and Strengthening Service Delivery.
An agr
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.
IMF (International Monetary Fund) has approved a Rs 46.7 billion ($ 395.9 million) concessional loan to Nepal. IMF has been providing this loan facility through enhanced credit facility (ECF) at zero interest.
