In association with
Logo Logo Logo

Concessional loan worth Rs 10.47 billion received from Japan


KATHMANDU:- The Government of Nepal and the Government of Japan have concluded an agreement on a concessional loan assistance amounting to Rs 10.47 billion extended by the latter for the promotion of economic growth and to support the development efforts undertaken by the Government of Nepal. The agreement to this effect was signed and exchanged today.
Finance Secretary Madhu Kumar Marasini and Ambassador of Japan to Nepal KIKUTA Yutaka signed and exchanged the Notes and Records of Discussion on behalf of their respective governments. In addition, loan agreement to this effect was also signed by Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance Ishwori Prasad Aryal and Chief Representative of JICA Nepal ASAKUMA Yumiko, according to the Ministry of Finance.
The objective of this assistance is to underpin the government’s effort in reforming economic and financial policies and institutions as well as strengthening domestic industrial bases and to protect the poor and vulnerable people. It also aims at contributing to the country’s longer term economic growth through fostering resilience and economic stabilization.
The proceeds of loan will be utilized in the form of co-financing with the World Bank’s support for carrying out the activities of economic growth, recovery and resilience. The assistance is the budgetary support in nature and can be used to cover the budgetary expenditures of the government of Nepal.
It entails 0.01 percent interest rate per annum and the repayment period expands up to 40 years, including a grace period for 10 years.
The signing ceremony was held remotely. The Government of Nepal has expressed its sincere appreciation to the Government of Japan for its continuous support in socioeconomic development endeavours of Nepal.

For Indian tourists travelling by land:- 72 hours (-ve) C-19 report, CCMC form and Antigen Test at entry point

For Indian tourists travelling by land:- 72 hours (-ve) C-19 report, CCMC form and Antigen Test at entry point

Comment here !
Related News

KATHMANDU:- Nepal Chamber of Commerce (NCC) has urged Malaysia for the establishment of industrial village in Nepal. The NCC representatives

KATHMANDU:- The Millennium Challenge Corporation (MCC) Compact has been published in the Nepal Gazette, the government’s official bulletin. With this,

KATHMANDU:- Although agriculture has been a major sector of the country’s economy as the main source of livelihood, employment and

KATHMANDU:- The third BIMSTEC energy ministerial meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)


Headlines
Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point
Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point
Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point