$100 Million Loan Nod from Cabinet

The government has officially announced its acceptance of a $100 million concessional loan from the Asian Development Bank (ADB), provided as part of budgetary assistance. The decision was made during a Cabinet meeting held on Thursday, with Minister for Communications and Information Technology Rekha Sharma, also the government spokesperson, confirming the decision.

The loan, equivalent to Rs13.26 billion, is expected to contribute significantly to various developmental initiatives and projects outlined in the national budget. Minister Sharma emphasized the positive impact this financial support would have on the country’s economic growth and infrastructure development.

Additionally, the Cabinet meeting addressed key issues, including amendments to the criteria for the rescue and relief of disaster victims. The government aims to enhance its disaster response capabilities to better assist those affected by natural calamities.

Furthermore, the meeting approved a memorandum of understanding (MoU) between Nepal and Qatar concerning youth and sports. This move signifies a commitment to fostering cooperation and collaboration in these vital sectors between the two nations.

In an administrative reshuffle, Sudurpaschim Principal Secretary Narayan Prasad Sharma Duwadi has been transferred to the Ministry of Industry, Commerce, and Supplies. Simultaneously, Joint Secretary Hari Prasad Lamsal has been appointed as the principal secretary of the province. This decision is expected to bring fresh perspectives and efficiency to the administrative landscape.

The government’s proactive steps in securing international financial support, refining disaster response mechanisms, and strengthening diplomatic ties demonstrate its commitment to fostering economic development and addressing key societal challenges.