World Bank provides $ 207.26 million

KATHMANDU, July 8: The International Development Association (IDA) of the World Bank Group has agreed to provide 207.26 million US dollars (equivalent to NRs 19,922 million) assistance to the government of Nepal for the implementation of three different projects. [break]



Of the total assistance, 125 million US dollars will be provided as grant assistance and remaining 82.26 million US dollars as loan assistance.



The WB assistance will be used for the ongoing implementation of School Sector Reform (Rs. 9,612 million), for Poverty Alleviation II (Rs. Rs.7,690 million) and for Kali Gandaki A Hydropower Plant Rehabilitation Project (Rs. 2,620 million).



Separate Memorandum of Understandings to this end were signed amidst a programme at the Finance Ministry on Monday.



Finance Secretary Shantaraj Subedi and WB Country Manager for Nepal Ms. Tahaseen Sayed signed on the agreements on behalf of their respective sides.

On the occasion, Secretary Subedi has expressed its sincere appreciation to the WB for the assistances and for its continuous assistance in the socio-economic development of Nepal.

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