ADB approves $100 million loan to advance Nepal’s public financial management reforms
Summary
The Asian Development Bank has approved a $100 million loan to support public financial management reforms in Nepal, focusing on fiscal sustainability, enhanced governance, and empowering local governments.
Key Points
- Asian Development Bank approved a $100 million policy-based loan to advance Nepal's public financial management reforms.
- The loan aims to improve expenditure and debt management nationally and enhance resource planning and service delivery at local levels.
- Reforms include operationalizing fiscal risk reports, managing public enterprises, and establishing an Alternative Development Financing Fund.
- Local reforms focus on digitizing tax systems, asset management, property valuation, and developing gender and climate-responsive expenditure frameworks.
