Nepal receives foreign aid commitment of Rs 86.5 billion in three months

Published On: November 12, 2022 02:30 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 12: Nepal has received 86 billion rupees foreign aid commitment in the last three months.

According to the Ministry of Finance, Nepal has received foreign aid commitments in the first quarter (mid-June-mid-October) worth 86.41 billion rupees in which there is a subsidy of 6.71 billion while 79.70 billion rupees is debt.

The share of grants in total foreign aid is 7.77 percent. The share of loans is 92.23 percent. This year, the government has set a target of raising 55.46 billion rupees in grants and 242.26 billion rupees in foreign loans.

Until October this year, Japan has pledged to provide 35 million rupees for education, 1.37 billion rupees for water supply and sanitation from the European Union, 99 million rupees for education from Switzerland, 2 billion rupees for irrigation by Japan and 2 billion rupees for employment and ICT from Korea.

In the meantime, a commitment of 12.75 billion rupees, 34.96 billion rupees and 17.79 billion rupees has been received from the World Bank for environment, roads and ICT respectively. Japan has expressed a commitment to give 14.20 billion rupees loans for energy.


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