Germany announces Rs 4.8 bn grant to Nepal

Photo courtesy: Facebook page of German embassy

Kathmandu: The Government of Nepal and the Government of the Federal Republic of Germany have signed the new development cooperation agreement today in a ceremony, held virtually.

The German side has pledged grants of EUR 34.4 million more than Rs 4.8 billion for the continuation of German support until the year 2023 for Technical Cooperation and 2025 for Financial Cooperation.

The signing of today follows the Government Negotiations, held between Germany and Nepal in November 2020. The German Development Cooperation is focusing on three thematic areas: Health, Sustainable Economic Development and Energy Efficiency/Renewable Energy.

The lion’s share of the committed funds will be allocated to the sectors of health (EUR 23.7 m.), energy EUR 17.5 m. and sustainable economic development (EUR 15,4 m.). The geographical focus of the cooperation will remain on the rural regions in Nepal’s Mid and Far West.