KATHMANDU: Nepal is to take a loan worth Rs 1.19 billion from the Asian Development Bank (ADB) for the implementation of the Rural Roads Improvement Program.

The government is in touch with some of its development partners and donor agencies to receive foreign assistance, according to the Ministry of Finance.

It reaches the phase of collecting submissions from the Ministry of Law, Justice and Parliamentary Affairs in regard to obtaining 40 million Euros from the European Union for the implementation of the School Sector Reform Project and projects in other areas.

The EU has been urged to provide Rs 15.06 million in grants to Nepal for the support of agricultural and rural development endeavors.

Likewise, the country has raised Rs 30 billion in internal and Rs 26.46 billion in external loans till January 14, 2023, it is stated in the half-yearly review of the budget of the current fiscal year 2022/23.

The government has received foreign grants worth Rs 8.12 billion during the same period.

(Inputs from RSS)