World News | Nepal Inks USD 140-million Concessional Loan with World Bank
Get latest articles and stories on World at LatestLY. Nepal inked a concessional loan agreement of USD 140 million with the World Bank (WB) on Tuesday.
Kathmandu, Aug 30 (PTI) Nepal inked a concessional loan agreement of USD 140 million with the World Bank (WB) on Tuesday.
A concessional loan is a debt instrument where more favourable terms are agreed upon for the borrower than the marketplace.
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The Nepal Cabinet meeting on Tuesday decided to approve USD 140 million in concessional loan, according to Gyanendra Bahadur Karki, Government spokesperson and Minister for Information and Communication.
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The loan will be received from the International Development Association of the World Bank Group for the Digital Nepal Acceleration Project, Karki said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)