Govt to proceed foreign grants, concessional loans

Khabarhub

September 28, 2020

2 MIN READ

Govt to proceed foreign grants, concessional loans

Government Spokesperson Foreign Minister Pradeep Gyawali unveils Cabinet decisions.

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KATHMANDU: The government has decided to put forward grant and concessional loans received from various foreign countries and sectors.

The Cabinet meeting on Thursday decided to hold talks relating to USD 80 million (around Rs 9.38 billion) to be received from the World Bank for the Rural Economic and Enterprise Development Project, said Government’s spokesperson Pradeep Kumar Gyawali at a press conference organized here on Monday to make public the Cabinet decisions.

In this regard, it was decided to form a five-member talks team led by joint secretary of the Ministry of Finance from the side of the Nepal Government and form a seven-member team led by joint secretary of the Finance Ministry to organize talks with Asian Bank to receive a concessional loan worth USD 150 million (around Rs 18 billion) from the bank for ‘South Asia Sub-regional Cooperation Airport Capacity Enhancement Project’.

The meeting also decided to approve economic and technical assistances worth approximately Rs 3.52 billion to be provided by the UK Government for the Nepal Health Sector Programme III.

It was decided upon to endorse Loan Guarantee (Second Amendment) Regulations, 2077 and standards related to multi-years contracts of projects, 2077.

The meeting decided to provide Rs 300 each for Armed Police Force personnel who have received Gotakhor training for the day they have been deployed for the rescue operation and a special insurance worth Rs 1 million each and endorse the risks allowance management (first amendment) order, 2077 for human resources involved in the treatment of COVID-19 infected people.

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