Kathmandu, October 21: Nepal is to borrow more than 38 billion rupees from the World Bank. The cabinet meeting on Friday decided to form a negotiating team to accept the World Bank’s proposed loan assistance of $135 million (about 18.9 billion rupees) for green, resilient and inclusive development.

It has been decided to form a negotiating team under the leadership of the Joint Secretary in the Ministry of Finance. The cabinet also decided to accept a concessional loan assistance of US $150 million (about Rs 20.12 billion) from the World Bank under the Nepal Disaster Resilient Development Policy.

People’s News Monitoring Service.

Source : https://www.peoplesreview.com.np/2024/10/21/nepal-to-get-38-billion-loan-from-world-bank/