Foreign aid commitment for Nepal reaches over Rs 115 billion
Nepal received over Rs 115 billion foreign aid commitment for the fiscal year 2012/013 for the implementation of various development projects.
According to the Ministry of Finance, Nepal received over Rs 115 billion foreign aid commitments during the last fiscal year from different development agencies and countries.
Of the total amount, Rs 53.9 billion was grant commitment, while the remaining amount was received as loan, according to RSS on Saturday.
Similarly, at the end of August 2013, the new foreign aid commitment for the fiscal year 2013/014 has reached a total of Rs 3.049 billion including Rs 2.9 billion as loan.
The top foreign aid and loan receiving priority sectors in Nepal include agricultural development, commerce and supplies, culture, energy, environment conservation, good governance promotion, health, capacity building and strengthening of Home Ministry, local development and the supply of drinking water.
The Ministry of Finance further said that energy sector was the highest foreign loan receiving sector in the corresponding period.
The multilateral donor agencies like World Bank, different bodies of the UN and ADB, and neighboring and friendly countries including India, China, Japan, South Korea, Germany, Switzerland and UK, among others, have been extending support to Nepal's development process. nepalnews.com