Significant increase in foreign assistance receipts

By A Staff Reporter,Kathmandu, Dec. 24: There has been a significant increase in the amount of foreign assistance received by the government of Nepal from development partners.

According to the Ministry of Finance, new commitments of foreign assistance worth Rs. 202.4 billion have been received by third week of December of the current fiscal year 2024/25. 

Spokesperson at the Ministry of Finance Mahesh Bhattarai said that the foreign assistance commitments made by the development partners have increased by 237.5 per cent during the review period as compared to same period last fiscal year. 

The government had received the foreign assistance commitment of Rs. 59.98 billion from the development partners by the third week of December last fiscal year. 

During the review period, the commitments of foreign grants have increased by 153.1 per cent and foreign loan commitment by 280.6 per cent, he said. Similarly, the foreign aid received in the current fiscal year so far has also increased by 30.3 per cent compared to the same period of the previous fiscal year.

According Bhattarai, a total of Rs. 44.8 billion in foreign assistance, including Rs. 6.75 billion in grants and Rs. 37.33 billion in loans, has been received and used for various development and construction projects during the review period.