Japan provides 10 billion Yen to Nepal for economic growth and resilience

Published On: January 25, 2022 01:55 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Jan 25: The Government of Japan has decided to extend loan assistance of up to ten billion Japanese Yen, approximately Rs 10.4 billion, to Nepal as a policy loan for economic growth and resilience.

According to a statement issued by the Japanese embassy in Kathmandu, KIKUTA Yutaka, ambassador of Japan to Nepal, and Madhu Kumar Marasini, secretary of the Ministry of Finance, signed notes to this effect on Tuesday. Similarly, another set of Loan Agreements for implementing the project was signed by ASAKUMA Yumiko, Chief Representative of JICA Nepal, and Ishwori Prasad Aryal, Joint Secretary, the International Economic Cooperation and Coordination Division of the Ministry of Finance.

On the occasion of signing the notes, Ambassador KIKUTA stated that the Government of Japan has provided multifaceted support to Nepal to prevent and control the COVID-19 pandemic. “Japan has provided vaccines, medical equipment and training in this field, which will greatly contribute to the health care system even after the pandemic. Our next decision is to provide financial support for economic stabilization and development of Nepal as a whole. I hope that this support will be effectively utilized to realize post-COVID-19 economic recovery and social resilience,” the statement quoted Ambassador KIKUTA as saying. 

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