Hari Lamichhane
Kathmandu, Jan 1 (RSS): The Ministry of Finance on Sunday released three separate reports on foreign aid mobilization and assessment.
At a programme organized in the Ministry, Finance Minister Gyanendra Bahadur Karki made public the reports on development assistance assessment and foreign aid mobilization in federalism.
As per the development assistance report 2073/074, Nepal mobilized development assistance worth 1.39 US Dollars during the period that the amount is 30 per cent more compared to the previous fiscal year.
Of the total assistance, 41.76 per cent stood grant while 39.36 per cent was in loan and remaining 18.88 per cent the technical assistance.
On the occasion, Finance Minister Karki said that the amount of the development assistance to be mobilized through the national system has gradually increased reaching 73 per cent in the last fiscal year against 63 per cent of the previous fiscal year.
It is said that the World Bank Group is the biggest development partner among the multilateral partners while the United States of America remained the largest contributor among the bilateral development partner for Nepal’s economic assistance.
During the programme, Minister Karki urged the donors to mobilize the development assistance in line with Constitution of Nepal.
Meanwhile, the Finance Ministry has drawn a conclusion for mobilizing the foreign aid in Nepal with the country heading to federalism.
In a report on foreign aid mobilization in federalism released Sunday, it is stated that challenges are likely on modality of assistance, project demand and project framework.
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