Nepal Government to Secure Rs. 13.33 Billion Concessional Loan from World Bank

The Government of Nepal has decided to secure a concessional loan of Rs. 13.33 billion from the World Bank, following a cabinet meeting held on Wednesday. This loan, equivalent to 100 million dollars, aims to support various developmental initiatives in the country.

The recent cabinet decision was unveiled during a press conference organized by the Ministry of Communications and Information Technology on May 3. Alongside this announcement, the government has approved the participation of Attorney General Dr. Dinmani Pokharel and Deputy Attorney General Sanjeev Raj Regmi in the 'Regional Programme for South Asia', scheduled to be held in New Delhi on May 7.

Furthermore, Minister for Communications and Information Technology, Rekha Sharma, disclosed that the Cabinet has endorsed the visit of Chief Election Commissioner Dinesh Kumar Thapaliya to India from May 4 to 9, aimed at observing the general elections in the neighboring country.

In a move reflecting the country's evolving administrative landscape, the government has granted permission to revise the design of the Nepali currency note with a denomination of Rs. 100. This revision involves replacing the old map of Nepal in the background with a new administrative map.

Minister Sharma also announced the government's approval of a draft Memorandum of Understanding (MoU) to be signed between the Supreme Court of Nepal and its Indian counterpart for enhanced judicial cooperation. Additionally, an MoU establishing a consultative mechanism between the Ministry of Foreign Affairs of Nepal and Spain has been endorsed, with approval granted to the Minister of Foreign Affairs to sign the MoU.

Other notable decisions made during the meeting include the appointment of former High Court Judge Shrawan Kumar Gautam as the Chairperson of the Problematic Cooperatives Management Committee. Furthermore, the government has rescinded the National Information and Technology Development Committee (Formation) Order, 2058 BS.

Additionally, several secretaries have been transferred in a move aimed at optimizing administrative efficiency.