Nepal signs $100 million concessional loan deal with ADB

Summary

Nepal and the Asian Development Bank have signed a $100 million concessional loan agreement to enhance public financial management and devolved service delivery.

Key Points
  • Nepal signed a $100 million concessional loan agreement with the Asian Development Bank to support public finance management programmes.
  • The loan has a 24-year repayment period including an eight-year grace period with low-interest rates.
  • The programme aims to improve expenditure management, fiscal discipline, and empower local governments.
  • Officials from Nepal's Ministry of Finance and ADB reaffirmed their commitment to effective cooperation after signing.
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