The Asian Development Bank (ADB) has extended US$ 100 million in grants to help reduce poverty in isolated areas of Nepal to ensure more inclusive and sustainable economic growth.
A statement issued Wednesday by the ADB said the Rural Reconstruction and Rehabilitation Sector Development Program would also receive a US$ 10 million loan from the OPEC Fund for International Development. The loan will be managed by ADB.
Through this support, ADB said it would provide much needed resources to promote good governance and poverty reduction by improving the policy environment for inclusive growth and reconstructing and rehabilitating rural infrastructure in remote areas of Nepal,
The assistance package is made up of a US$ 50 million programme grant from ADB, and a project grant, which will be funded by another US$ 50 million grant from the Bank, the loan from OPEC Fund for International Development, US$ 15.7 million from the government of Nepal, and US$ 2.7 million from beneficiaries.
Saturday, December 15, 2007
Sushil blames Maoists for deadlock, polls delay
Acting president of the Nepali Congress Sushil Koirala has blamed the Maoists of their resistive stand on demands that brought deadlock in the political process.
Speaking at the national gathering of the Nepal Press Union on Friday, Koirala said his party now has no inch to go ahead for consensus on the issues raised by the communist parties.
Koirala also blamed Maoists for the failure of holding the CA polls for the second time in pretext of Nepali Congress not agreeing with republic and their other agendas. He said his party was not an obstacle to establishing republic.
Expressing concern over the increasing attacks and intimidation of journalists, Koirala appraised that journalists are the first pillars to institutionalising democracy.
Speaking at the same programme, President of the Federation of Nepali Journalists (FNJ) Bishnu Nisthuri urged the journalists for unity for security. He flayed the government for failure to bring those involved in targeting journalists to book.
Speaking at the national gathering of the Nepal Press Union on Friday, Koirala said his party now has no inch to go ahead for consensus on the issues raised by the communist parties.
Koirala also blamed Maoists for the failure of holding the CA polls for the second time in pretext of Nepali Congress not agreeing with republic and their other agendas. He said his party was not an obstacle to establishing republic.
Expressing concern over the increasing attacks and intimidation of journalists, Koirala appraised that journalists are the first pillars to institutionalising democracy.
Speaking at the same programme, President of the Federation of Nepali Journalists (FNJ) Bishnu Nisthuri urged the journalists for unity for security. He flayed the government for failure to bring those involved in targeting journalists to book.
Governor case decision deferred again
The Special Court has once again deferred the decision on the case against governor of Nepal Rastra Bank (NRB) Bijaya Nath Bhattarai.
The court deferred the decision date by 15 more days after disputes arose regarding the authenticity of a letter said to have been sent by KPMG, Sri Lanka.
Earlier, the court had said it would give the decision on the case on Friday.
Bhattarai and another senior NRB official, Surendra Man Pradhan, have been accused of embezzling Rs 195.319 million that Nepal had received in foreign aid for financial sector reforms.
The court deferred the decision date by 15 more days after disputes arose regarding the authenticity of a letter said to have been sent by KPMG, Sri Lanka.
Earlier, the court had said it would give the decision on the case on Friday.
Bhattarai and another senior NRB official, Surendra Man Pradhan, have been accused of embezzling Rs 195.319 million that Nepal had received in foreign aid for financial sector reforms.
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