Nepal records 16% rise in foreign aid in one year

File image: Ministry of Finance

Kathmandu, January 16

The government of Nepal says the amount of foreign development aid the country received in the last fiscal year, 2017/18, increased by 16 per cent from the amount of previous year.

The development aid report made public by the Ministry of Finance on Wednesday mentions that the government received USD 1.623 billion as development support from bilateral and multilateral donor agencies.

The amount was USD 1.395 billion in the previous year.

Of the total support, 50.5 per cent is loan whereas 35.1 per cent is grant, according to the report. The rest 14.4 per cent is technical support.

The Ministry has observed that the loan assistance has increased, but the technical support decreased.

Around 78 per cent of the support was received to the national budget system against 73 per cent of the previous year.

The World Bank and the United States have been identified as the biggest multilateral and bilateral donor agencies respectively.

Published on January 16th, Wednesday, 2019 3:13 PM

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