KATHMANDU, June 20: The Asian Infrastructure Investment Bank (AIIB) has assured Nepal it will finance two mega projects, each costing about Rs 10 billion (US$ 100 million) through soft loans, Finance Minister Gyanendra Bahadur Karki said. The bank will charge 2 percent interest per annum, according to the minister.
KATHMANDU, June 13: Professional bodies of contractors, consultants and engineers have said that the government itself should select contractors for roads projects being financed by utilizing Indian line of credit (LoC).
KATHMANDU, May 29: The government has tabled a budget of Rs 1.278 trillion for the Fiscal Year 2017/18, and this budget is different from past ones as it has allocated sizable resources to the federal units for the first time. As part of implementation of the new constitution, the central government has allotted Rs 225 billion to 744 local units and another Rs 1.02 billion for each of the seven provinces.
KATHMANDU, May 29: Nepal's economy has bounced back after two bad years punctuated by earthquake and the Indian blockade. Tabling the economic survey report in parliament on Sunday, Finance Minister Krishna Bahadur Mahara said that the economy, which contracted because of the earthquake and supply disruption in the boarder areas, has now fully rebounded. The survey is based on data for the first eight months of the current fiscal year.
KATHMANDU, May 25: Few months before the constitution was promulgated, the erstwhile government, through its policy and programs, had announced an incentive package for merger of village development committees (VDCs).
KATHMANDU, May 24: With Prime Minister Pushpa Kamal Dahal “all set to resign”, the Cabinet meeting on Tuesday decided to award the Budhigandaki Hydropower Project to a Chinese company. But the decision, according to government officials, to award the reservoir project to China Gezhouba Group Corporation (CGGC) has a rider - CGGC will have to come up with a technically and financially viable proposal within a year.
KATHMANDU, May 17: Two budgetary programs allocated for development projects directly picked by parliamentarians will be discontinued in the new budget, according to officials involved in preparation of budget for Fiscal Year 2017/18.
KATHMANDU, May 11: Candidates in the three provinces going to local polls in the first phase are using a different publicity modality than in past election campaigns. The use of pamphlets and brochures is sparse this time and the demand for paper for publicity purposes is very low, according to Nepal Printers Association.
KATHMANDU, May 10: Kulman Ghising, the managing director of Nepal Electricity Authority (NEA), on Tuesday said that the power utility was buying energy-efficient LED lamps from India to enhance its demand-side management.