Government decides to borrow Rs 14.15 billion from World Bank and ADB

Photo: Reuters

Kathmandu: Nepal Government has decided to take concessional loan of around Rs 14 billion from the World Bank and Asian Development Bank.

According to government spokesperson and Information and Communication Technology Minister Parbat Gurung, the cabinet meeting on November 28 decided to take a concessional loan of $40 million from the Asian Development Bank for the priority river flood risk management project.

It has also decided to accept $10 million in grant assistance for the same project. The Ministry of Finance has also decided to accept $80 million from the World Bank as concessional loan.