Nepal accepts 150 million dollar “concessional loan” from World Bank
Kathmandu, February 1. The government of Nepal on Monday decided to accept a concessional loan of 150 million US dollars from the World Bank.
Government Spokesperson Gyanendra Bahadur Karki told reporters that the World Bank will now begin the process to provide a loan under its initiative of “Finance for Growth Development Policy Credit”.
The World Bank has a major role for providing loans and assistance to Nepal. In 2021 alone, the international organization supplied more than 600 million dollars to Nepal’s development and pandemic response.
In November last year, the The Government of Nepal and the World Bank signed two separate agreements that around Rs. 42 billion Nepali rupees (or USD 350 million) to strengthen urban governance and the financial sector as well as support the country’s COVID-19 resilience and recovery efforts.
Similarly, on June 17, the the board of Executive Directors at the World Bank approved a USD 150 million financial assistance to support Nepal’s COVID response and management.
Govt, World Bank sign financing agreements of $350 million (around Rs. 42 billion)
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