Kathmandu, Dec 22: Nepal has seen a significant increase in foreign aid commitments from development partners.
According to the Ministry of Finance, by the first week of Poush in the current fiscal year 2081/82 BS, Nepal government received foreign aid commitments worth Rs 202.40 billion. This represents a 237% increase compared to the same period in the previous fiscal year 2080/81 BS, when commitments stood at Rs 59.98 billion.
Ministry spokesperson Mahesh Bhattarai stated that foreign grant commitments rose by 153%, while foreign loan commitments surged by 280% during this period.
Additionally, the disbursed foreign aid during the current fiscal year has increased by 30.3% compared to the corresponding period last year. Spokesperson Bhattarai noted that Rs 6.75 billion in grants and Rs 37.33 billion in loans, totaling Rs 44.08 billion, have been received and utilized in various development and construction projects.
In most cases, the government’s delays in formulating projects and implementing the existing projects have hampered a lot in recent years. The failure of the government in injecting money in the market has slowed down the economic activities as well. The sluggish economy has multiple shocks in the country. #nepal #economy #aid
