The Government of Nepal has decided to obtain a concessional loan of US $100 million (approximately Rs 14.25 billion) from the Asian Development Bank (ADB) to support the Public Financial Management Reform and Service Delivery Transfer Program.
A cabinet meeting held on Thursday approved the decision to take the loan as a supplement to the government’s budgetary system from one of Nepal’s key development partners.
To facilitate the process, the government will form a negotiation team led by a joint secretary at the Ministry of Finance to finalize the loan agreement and related discussions with ADB.
