WB positive to provide concessional loan of Rs. 130 billion

Kathmandu: The World Bank (WB) is positive to provide a concessional loan of Rs. 130 billion for the Upper Arun Hydropower Project.

The WB indicated providing the concessional loan for the project during the meeting of its office-bearers with Finance Minister, Dr. Prakash Sharan Mahat, today. Finance Minister is in Marrakesh Morocco in the course of his participation in the annual meeting of the WB.

According to the Ministry, the high-level Nepali delegation has made preparations to hold a discussion focusing on the issues of technical and financial issues in Washington next week. Similarly, the WB has given a positive nod to the proposal presented by the Finance Minister to organize the 21st meeting of International Development Aid in Nepal.

During the review meeting with the Vice-President for the South Asia Region, WB, Martin Raiser, and WB Vice-President of Development Finance, Akihiko Nishio, they responded positively to Nepal’s proposal.

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