KATHMANDU: Germany has pledged approximately Rs 5.9 billion in grant aid to Nepal. The Finance Minister has been authorized by the government to finalize and sign the agreement.

During a press briefing held on Friday following Thursday’s Cabinet meeting, Minister for Communications and Information Technology, Rekha Sharma, disclosed this significant development.

The Cabinet session focused on refining the draft agreement concerning a loan of roughly Rs 13 billion from the World Bank. Additionally, it established a team led by a Joint-Secretary from the Finance Ministry to engage in discussions with the World Bank.

Moreover, Minister Sharma announced the government’s acceptance of a $2 million grant from Saudi Arabia to establish a Polytechnic Institute and procure chemical fertilizers.

Furthermore, she highlighted the government’s approval to accept grant aid from India for the execution of the “High Impact Community Development Project.” This includes setting up quarantine check posts at Trinagar checkpoint in Kailali and Suthauli checkpoint in Kapilvastu to manage the quarantine of plants and plant products.

In a separate decision, the Cabinet appointed Rudra Prasad Gautam as the Chairperson of the Water Tariff Fixing Commission, along with Yashoda Karki and Kul Bhusan Shekhar Sharma as members.

The government also sanctioned the Integrated National Social Security Framework for 2080, presented by the Finance and Infrastructure Committee, along with the National Insurance Policy for 2080.

(With inputs from RSS)