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WB Provides Rs 19.92 Billion To Nepal
By KTM Metro reporter
July 9, 2013: The International Development Association (IDA) of the World Bank agreed to provide Nepal with Rs 19.92 billion for the implementation of three different projects such as School Sector Reform (Rs. 9,612 million), Poverty Alleviation II (Rs. Rs. 7,690 million), and Kali Gandaki A Hydropower Plant Rehabilitation Project (Rs. 2,620 million), according to ‘gorkhapatraonline.com’.
To this end, separate Memorandums of Understanding (MoU) were signed at the Finance Ministry yesterday. Finance Secretary Shantaraj Subedi and WB Country Manager for Nepal Tahaseen Sayed signed the agreement on behalf of their respective sides.
Of the total assistance, 125 million US dollars is a grant and the remaining 82.26 million US dollars is a loan.
On the occasion, Secretary Subedi sincerely appreciated the WB for the assistances and for its continuous assistance in the socio-economic development of Nepal.
