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Germany Pledges Rs 5.9 Billion in Grant Aid to Nepal

December 9, 2023
2 mins read
Germany Grant Nepal

In a significant development, Germany has committed to providing approximately Rs 5.9 billion in grant aid to Nepal. The announcement came after the government authorized the Finance Minister to finalize and sign the agreement during a Cabinet meeting held on Thursday.

Minister for Communications and Information Technology, Rekha Sharma, disclosed this information during a press briefing on Friday, shedding light on the positive outcome of the recent Cabinet session. The session primarily focused on refining the draft agreement concerning a substantial loan of around Rs 13 billion from the World Bank. A dedicated team, led by a joint secretary from the Finance Ministry, was established to engage in discussions with the World Bank regarding the loan.

Additionally, Minister Sharma revealed that the government had accepted a generous $2 million grant from Saudi Arabia. The funds will be utilized to establish a Polytechnic Institute and procure chemical fertilizers, contributing to the country’s educational and agricultural sectors.

Furthermore, she highlighted another stride in international cooperation, as the government approved a grant aid from India. This grant is earmarked for the implementation of the “High Impact Community Development Project,” which includes the establishment of quarantine check posts at Trinagar checkpoint in Kailali and Suthauli checkpoint in Kapilvastu. These check posts aim to effectively manage the quarantine of plants and plant products.

In a separate decision, the Cabinet appointed Rudra Prasad Gautam as the Chairperson of the Water Tariff Fixing Commission, with Yashoda Karki and Kul Bhusan Shekhar Sharma appointed as members.

The government’s commitment to social welfare was further underscored with the sanctioning of the Integrated National Social Security Framework for 2080, as presented by the Finance and Infrastructure Committee. Additionally, the National Insurance Policy for 2080 received approval, demonstrating the administration’s dedication to comprehensive social security measures.

The grant aid from Germany marks a significant boost to Nepal’s economic development and strengthens diplomatic ties between the two nations. As Nepal continues to engage in collaborative efforts with various countries, these initiatives are poised to make a lasting impact on the nation’s progress.

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