Cabinet Approves $52 Million Concessional Loan, Key Economic and Infrastructure Decisions Made
Nepal’s Cabinet has approved a $52 million concessional loan from the World Bank along with several key decisions related to energy, agriculture, and infrastructure.
The Government of Nepal has decided to accept a $52 million concessional loan from the World Bank along with a $5 million grant to support environmental monitoring and industrial energy transition initiatives.
According to government spokesperson Sasmita Pokharel, the Cabinet meeting held today approved several important economic and policy decisions.
One of the key decisions includes providing credit facilities to industries to replace traditional boilers with electric boilers and expanding air quality monitoring capacity.
The Cabinet also decided to resubmit the Constitutional Council-related ordinance to the President after it was previously returned.
In the agriculture sector, the government has approved the purchase of 60,000 metric tons of urea and 20,000 metric tons of DAP fertilizer from India through a government-to-government (G2G) agreement via the Agricultural Inputs Company Limited.
Additionally, the Cabinet approved the master plan for the Singha Durbar premises, which includes improved entry management systems for the Federal Parliament building and surrounding areas.