Nepal has witnessed a substantial increase in foreign aid commitments from its development partners, with the Ministry of Finance reporting Rs 224 billion in new commitments as of mid-December in the fiscal year 2023/24.
This marks a 237% rise compared to the previous fiscal year’s commitment of Rs 59.98 billion. According to Ministry of Finance spokesperson Mahesh Bhattarai, foreign grant commitments grew by 153%, while foreign loan commitments surged by 280%.
Foreign aid disbursement has also seen notable growth. Bhattarai revealed that aid received so far this fiscal year increased by 30.3% compared to the same period last year. Of the total aid received, foreign grants accounted for Rs 6.75 billion, foreign loans amounted to Rs 37.33 billion, and Rs 44.8 billion has been utilized in various development projects.
