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On loan


The Asian Development Bank (ADB) has approved a $35 million loan to Nepal for a public sector management program aimed at boosting revenue collection, prioritising expenditure and strengthening fiscal sustainability. It has also committed a technical assistance grant of $425,000 to provide overall management support for the program, while helping the government to develop an effective privatisation process and build capacity to undertake divestment. The bank says the program is in line with the government's poverty reduction drive.
The loan comes from its concessional Asian Development Bank Fund, with a 24-year term, including a grace period of eight years. Interest will be charged at 1 percent per annum during the grace period and 1.5 percent per annum subsequently.


LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


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