Rs 92b foreign aid granted in current fiscal year

The government has received Rs 92 billion worth of foreign aid commitment from different countries and donor agencies in the current fiscal year.

The bilateral and multilateral agencies pledged above Rs 92 billion assistance in education, health, local and urban development, drinking water, Constituent Assembly polls and physical infrastructure development till the first ten months of the current fiscal year.

The Finance Ministry said that Rs 70.16 billion foreign assistance was received during the same period in the fiscal year 2069/070 BS.

According to the Ministry, the agencies doling out financial assistance to Nepal include Japan, Norway, Switzerland, Finland, China, the World Bank Group, Asian Development Bank, European Bank, Asian Development Bank, DFID and USAID.

The donor agencies have supported through projects of local governance and community development programme, Nepal-India Electricity Transmission and Trade Project, Implementation of SASEC Road Connectivity Project and others.

Under Secretary at the Ministry Dr Bashu Sharma said that the current government has planned to spend the aid assistance in productive sector.

He said that the government has changed its foreign assistance policy and taking the foreign assistance through one-door policy, accepting the foreign assistance only that can be absorbed.

Source: Nepalnews