Government Approves Concessional Loan of Rs 27 Billion from Donor Agencies

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Government Approves Concessional Loan of Rs 27 Billion from Donor Agencies

September 29: The government has approved concessional loan of more than Rs 27 billion from various donor agencies. The government has decided to take the loan from the World Bank, Asian Development Bank and other donors for budgetary support programmes.

Government Spokesperson Pradeep Gyawali, who is also the minister for foreign affairs, informed last week that the government is preparing to take concessional loan of Rs 26.38 billion.

According to Foreign Minister Gyawali, the government has already formed a task force to study the prospects of such loans.

The Council of Ministers has  formed a five-member negotiation team led by a joint secretary of the finance ministry for availing concessional loan of Rs 9.3 billion (USD 80 million) from the World Bank. The aid will be utilized for rural enterprises and economic development projects, the government further informed.

The government has been running this programme since 2015 to minimize poverty and to create employment opportunities in rural areas.

Likewise, a seven-member talks team has been formed to receive a concessional loan of Rs 18 billion (USD 150 million) from the ADB. This loan will be utilized by the Ministry of Culture, Tourism and Civil Aviation.

The government has also decided to approve financial and technical assistance worth Rs 3.52 billion from the British government. This aid will be spent on health related programmes.

 

 

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