国际英语资讯:Nepali govt removes minimum threshold for receiving foreign assistance_时事

国际英语资讯:Nepali govt removes minimum threshold for receiving foreign assistance

As per the old policy, minimum threshold for receiving grant was fixed at 5 million U.S. dollar per project. The new policy removed this threshold but it stated that the size of grant would be made larger as far as possible through other means.

"The donors will be encouraged to contribute small grant to a pool fund created after combining contribution from several donors," the new policy states.

The Nepali government aims to spend grant in the areas of environment protection, tackling climate change, sustainable development efforts, rural infrastructure, social development, agriculture modernization, social development, health, education, drinking water and human development.

The new policy has kept the threshold unchanged at 10 million U.S. dollar per project for the concessional loan, in which interest rate remains very low.

The concessional loans will be used in the areas of hydropower, renewable energy, road, bridge, irrigation, airport, railway, dry ports, urban infrastructure and agriculture and tourism infrastructure, the policy states.

The new policy also removed the threshold for other loans including commercial loans which was maintained at 20 million U.S. dollar per project in the earlier policy.

The Himalayan country, which has been receiving loans from foreign Export-Import Banks including such banks from both China and India since last few years, has sought to use such loans in the areas of hydropower, highway, railway, airport, dry port and urban infrastructure projects.