Refund of foreign aid not receive as expected

Published On: December 25, 2017 01:54 PM NPT

KATHMANDU, Dec 25: The reimbursement of the foreign assistance has not been received as per the expectations since the latter was not effectively mobilized. 

The money provided by the donor agencies was not mobilized as the projects getting the foreign aid could not take the expected momentum. 

Chief of the International Economic Assistance Coordination Division at the Ministry of Finance, Joint Secretary Baikuntha Aryal, said Rs 18 billion has been refunded in the six months of the current fiscal year. 

The government has stated in the budget statement for the current fiscal year that foreign grants of Rs 72 billion 167 million 628 thousand and foreign loan Rs 214 billion 35 million 429 thousand would be mobilized. 

According to Aryal, the expected refund could not be taken as irrigation, hydropower and infrastructure projects dependent on foreign assistance could not make the desired progress. 

Commitment of Rs 99 billion 370 million has been received as of November 15 and out of this amount agreement has been reached for Rs 94 billion 182 million, the Ministry of Finance has stated. 

The government had stated that the international economic assistance would be mobilized as per national requirement and priority. RSS

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