Foreign aid pledges increase by whopping 238 percent

KATHMANDU, DECEMBER 23 : The Government of Nepal has reported a significant surge in foreign aid commitments from development partners. By the first week of Poush (mid-December to mid-January) in the current fiscal year 2081/82 (2024/25), new foreign aid commitments totaling Rs 2 trillion, 2 billion, and 40 million were secured. This marks an impressive increase of 237.5% compared to the same period in the last fiscal year, according to Mahesh Bhattarai, spokesperson for the Ministry of Finance.

Bhattarai highlighted that foreign grant commitments rose by 153.1%, while foreign loan commitments saw an even greater rise of 280.6% during the review period.

Moreover, foreign aid disbursed so far in the current fiscal year has increased by 30.3% compared to the same period last year. The Ministry of Finance reported that foreign grants amounting to Rs 6.75 billion and foreign loans of Rs 37.33 billion, totaling Rs 44.08 billion, have been received and allocated for various development projects.