December 1, 2021, Wednesday
Nepal 1:37:26 pm

Govt receives foreign aid pledge worth Rs. 202.28b

The Nepal Weekly
June 23, 2021

The Nepal Weekly | June 22, 2021

Nepal government has received foreign assistance commitment worth Rs. 202.28 billion from various development partners during the first ten months of the current fiscal year.

According to a report released by the Finance Ministry on Sunday, the foreign aid pledge during the review period touched Rs. 202.28 billion compared with Rs. 149.5 billion recorded in the same period previous year.

This is an increase of 35.3 per cent during the review period compared to same period last fiscal year 2019/20.

Of the total aid commitments, Rs. 22.04 billion is pledged under grant component, while the rest Rs. 180.24 billion is under loan component, according to the ministry.

In the review period, the share of grants and loans in foreign aid commitment is 10.9 per cent and 89.1 per cent respectively. The share of grants and loans in the foreign aid commitment of the same period last fiscal year was 14.3 per cent and 85.7 per cent respectively.

According to the ministry, the share of bilateral and multilateral assistance in the foreign aid commitment up to mid-

May in the current fiscal year stands at 4.7 per cent and 95.3 per cent respectively.

Out of the total foreign aid commitment, 26.7 per cent is in the road sector, 22.9 per cent in the energy sector, 11.1 per cent in budgetary assistance, 8.8 per cent in skill development, 5 per cent in COVID-19 and 2.2 per cent in health.

In the meantime, the government has received foreign assistance of around Rs. 81.43 billion during the first ten months of the current fiscal year.

Out of total foreign aid received, the country got Rs. 14.33 billion in grant and Rs. 67.10 billion in loan assistance, the Ministry said.