KATHMANDU, Dec 23: The Nepali government has seen a significant increase in foreign aid from its development partners. As of mid-December in the current fiscal year 2023/24, the Ministry of Finance has reported a new foreign aid commitment totaling Rs 224 billion.
Ministry of Finance spokesperson Mahesh Bhattarai stated that foreign aid commitments have risen by 237 percent compared to the previous fiscal year, which had a commitment of Rs 59.98 billion. He noted that foreign grant commitments increased by 153 percent, while foreign loan commitments surged by 280 percent.
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Bhattarai also mentioned that the foreign aid received so far in the current fiscal year has grown by 30.3 percent compared to the same period last year. He added that foreign grants amounted to Rs 6.75 billion, foreign loans totaled Rs 37.33 billion, and the foreign aid received and utilized in various development projects amounted to Rs 44.8 billion.
