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ECONOMY

Govt to accept grant of over 24 million USD

The meeting of the Council of Ministers held at the Prime Minister's official residence, Baluwatar, on Sunday, approved the assistance amounting to USD 24,267,427. 
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By REPUBLICA

KATHMANDU, March 16: The government has decided to accept the grant assistance of over 24 million USD to be provided by the Green Climate Fund through the United Nations Development Programme (UNDP). 



The meeting of the Council of Ministers held at the Prime Minister's official residence, Baluwatar, on Sunday, approved the assistance amounting to USD 24,267,427. 


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The grant will be mobilized to implement a project aimed at protecting livelihoods and properties by reducing risks from glacial lake outburst floods (GLOFs) and other flood-related hazards in Nepal's glacial river basin areas.


Likewise, the government decided that the Nepali Embassies in Riyadh, Abu Dhabi, Kuwait City, Muscat, Islamabad, Cairo and Tel Aviv as well as the Nepali Consulate General in Jeddah and Dubai would make necessary arrangements to provide immediate and effective relief and rescue support to the Nepali citizens stranded in conflict-hit West Asian countries and in transit, said Home Minister, Om Prakash Aryal. 


He further shared that the government had decided to receive and study the report submitted by the investigation commission formed to probe the incidents that occurred during the Gen-Z movement last year.


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