Kathmandu, Jan. 25
Japan has decided to extend loan
assistance of up to 10 billion Japanese Yen, about Rs. 10.4 billion, to Nepal
as a policy loan for economic growth and resilience.
Kikuta Yutaka, Ambassador of Japan to
Nepal, and Madhu Kumar Marasini, Secretary of the Ministry of Finance, signed
notes to this effect on Tuesday, the Embassy of Japan in Kathmandu said in a
statement.
Likewise, another set of Loan Agreements
for implementing the project was signed by Asakuma Yumiko, Chief Representative
of JICA Nepal, and Ishwori Prasad Aryal, Joint Secretary, of the International
Economic Cooperation and Coordination Division at the MoF.
The agreement was signed with the
condition of 40 years repayment and 10 years grace period with 0.01 per cent
interest annually.
This Loan aims at supporting Nepal in its
reform program through co-financing with the Nepal Programmatic Fiscal Policy
for Growth, Recovery and Resilience Development Policy Financing by the
International Development Association (IDA).
Ambassador Kikuta stated that Japan has
provided multifaceted support to Nepal to prevent and control the COVID-19
pandemic.
Published in The Rising Nepal daily on 26 January 2021.
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