Nepal Rastriya Dainik
May 19, 2024 ,
TRENDINGS
Nine thousand victims of human rights violations in 2023 General committee meeting to make Congress strong and united: Deuba Those who pushed the country to violence are in power: Former President Bhandari Indefinite curfew order in Birgunj Permission for mineral extraction to 156 mining companies in Nepal Finance Minister Mahat’s request to focus on meeting the target of revenue collection

Economic crisis will not be solved immediately: Finance Minister

Posted on by नेपाल राष्ट्रिय दैनिक

Kathmandu: Finance Minister Dr. Prakasharan Mahat has said that it will take some time to completely solve the problems seen in the economy. Economist Mahat, who returned home on Sunday after participating in the joint annual meeting of the World Bank and the International Monetary Fund (IMF) held in Morocco, said in a press conference held at the Tribhuvan Airport that it will take some time to restore the long-standing problems in the economy.

He said that signs of improvement in the country’s economy have already started. Finance Minister Mahat said that on the sidelines of Morocco’s annual meetings, the participants discussed issues of collective and bilateral interest and also got the opportunity to network with the international community.

He said that there was also a discussion on the issues of financial governance, transparency and the need for reforms according to Nepali context and environment.

There is an arrangement that the finance minister will be the ex-officio governor of the World Bank and the governor of the National Bank of the IMF. Similarly, there is an arrangement that the Finance Secretary will be the alternate governor of the World Bank and the Joint Secretary of the International Financial Assistance Coordination Division will be the alternate governor of the IMF.

Nepal receiving 16 billion grant from the World Bank

Posted on by नेपाल राष्ट्रिय दैनिक

Kathmandu, March 26: The World Bank is going to provide about 16 billion Nepalese rupees to Nepal.

The meeting of the Board of Directors of the World Bank held on Sunday decided to provide a grant equal to that amount to implement the main school education sector program of the Government of Nepal. This program is based on previous school field programs.

World Bank country director for Maldives, Nepal, and Sri Lanka Faris Hadad Jervos said that investment in quality education is important for the development of human capital.

He said that this will also help the vision of the Nepal government to improve the quality of education and equitable access to fulfill the ambition of the new federal state. According to the World Bank, this grant will be used to address the damage to schools closed due to Covid-19, and help to build suitable classrooms and strengthen digital education. It will also be used in the scholarship program.

Nepal to borrow $275 million from the World Bank

Posted on by नेपाल राष्ट्रिय दैनिक

The government has decided to take a soft loan of $275 million from the World Bank.

Government Spokesperson Gyanendra Bahadur Karki informed that the decision was taken by the meeting of the Council of Ministers.

According to Karki, this loan has been approved for the transport and trade relations enhancement program.

Karki also informed that it has been decided to form a negotiation team to receive a 12 million dollar grant from the Asian Development Bank for the strengthening and empowering women’s protection program.

Government to take concessional loan of Rs. 18 billion and grant of Rs. 80 billion

Posted on by नेपाल राष्ट्रिय दैनिक

The government has decided to take a soft loan of Rs 18 billion from the World Bank Group’s International Development Organization. Minister for Communications and Information Technology and Spokesperson to the Government Gyanendra Bahadur Karki said this while announcing the decisions taken by the Council of Ministers.

The government has also decided to accept USD 659 million, or about Rs 80 billion, from the United States Agency for International Development (USAID).