Nepal govt agrees to borrow more than 13 bn from ADB

Kathmandu: The government of Nepal is going to take a concessional loan worth 100 million dollars (about 13.13 billion rupees) from the Asian Development Bank.

Government Spokesperson and Minister of Communication and Information Technology Rekha Sharma informed that this decision was taken by the Council of Ministers meeting held on Tuesday.

She said that the meeting formed a negotiation team to finalize the documents related to receiving concessional loan assistance as budgetary assistance for the improvement of public finance management and services.

It is mentioned in the decision of the Cabinet that a negotiation team has been formed under the coordination of the Joint Secretary of the Ministry of Finance.