Govt accepts loan of US$37 million from IDA
The government has decided to accept the loan of US$ 37 million (approximately Rs. 3.52 billion) and grant of two million US Dollars to be received from International Development Agency (IDA) of the World Bank Group for additional investment for the construction of Nepal-India Electricity Transmission Line and Trade Project.
The meeting of the Council of Ministers held on Thursday took a decision to that effect, according to state-owned news agency RSS.
Spokesperson of the Government and Minister for Information and Communications, Madhav Paudel, said the government would provide the loans to the Nepal Electricity Authority (NEA) as loan while the government would invest the grant amount as the share in the NEA.
Similarly, the meeting decided to form a team of Nepali delegation to hold talks with the Asian Development Bank (ADB) regarding the grant assistance of 21 million US Dollars (approximately Rs. 2.04 billion) to be received from the Bank for preparations of the Energy Sector Projects.
Similarly, the cabinet meeting also decided to send the proposal of the Ministry of Home Affairs, on Schedule- 1 of Nepal Citizenship Regulations-2063 B.S., to Bills Committee of the Council of Ministers and that the Committee would recommend the government with necessary amendment, said Minister Paudel.
The government has decided to increase the revolving fund of Nepali side at the BP Koirala Nepal-India Foundation and add further 160 million rupees and provide the amount to Ministry of Finance.
The government has also decided to provide around 79.27 hectares of land in forest area to the Upper Trishuli ´A´ Hydropower Project and 94 ropanies and 14 annas of land to Hewa Khola Hydropower project on condition of abiding by various rules for 35 years to each.
The meeting decided to provide Rs. 500,000 financial support to run a programme on the occasion of World Indigenous Nationalities´ Day to Nepal Federation of Indigenous Nationalities. Nepalnews.com