Page last updated at 2014-11-26 18:16:00 RSS
Economists Express Confidence On SAARC Effective Presence
KATHMANDU, Nov 26: National Planning Commission (NPC) Vice Chairman Dr Govinda Pokhrel has said the South Asian Association for Regional Cooperation (SAARC) would take an expected momentum with the commitments made by the Heads of State and Government during the 18th SAARC Summit.

Taking part in a face-to-face programme organised by the Reporters´ Club here Wednesday, the first day of the Summit, he said statements of SAARC leaders including the Indian Prime Minister Narendra Modi for regional cooperation and prosperity in the region have hinted the possibility of the development of SAARC as an important and meaningful institution.
RBBL Lowers Bidding Price For Its Promoter Shares In NIBL
KATHMANDU, Nov 26: Rastriya Banijya Bank Ltd (RBBL) is offloading its remaining shares in Rastriya Banijya Bank Ltd (RBBL) at a cheaper price after its first round of bidding failed attract sufficient buyers.

The state-owned bank is divesting its 5.8 million units of promoter shares in NIBL at Rs 400 per unit. Similarly, it is also offloading 178,927 units of promoter shares in Neal Aawas Finance Company Ltd (NAFL) in the second round of bidding. It has fixed price of its shares in NAFL at Rs 101 per unit.
ADB To Support Water Supply, Sanitation Programs
KATHMANDU, Nov 26 : Asian Development Bank has agreed to provide loan assistance of Rs 5.78 billion and grant assistance of Rs 127.4 million to Nepal for the implementation of Third Small Town Water Supply and Sanitation Project in Nepal.

An agreement to this effect was signed by Finance Secretary Suman Prasad Sharma and Kenichi Yokoyama, country director of Asian Development Bank, at the Minsitry of Finance on Tuesday.
'Establish SAARC Development Bank To Finance Infra Projects'
KATHMANDU, Nov 26: New Delhi-based think tank Research and Information System for Developing Countries (RIS) has suggested to the South Asian Association of Regional Cooperation (SAARC) member nations to set up SAARC Development Bank to finance regional infrastructure projects.

Releasing a report in cooperation with South Asia Watch on Trade, Economics and Environment (SAWTEE) in Kathmandu on the eve of the 18th SAARC Summit on Tuesday, RIS said it supports the idea of creating SAARC Development Bank as financing is the most important bottleneck in big infrastructural projects due to low rates of return.
IBN, Satluj Sign Arun III PDA
KATHMANDU, Nov 26: The government has signed Project Development Agreement (PDA) with Satluj Jal Vidyut Nigam Limited (SJVNL) for the development of Arun III Hydropower Project (900 MW).

Radhesh Panta, CEO of Investment Board Nepal (IBN) and RP Singh, president of SJVNL, signed the agreement in the presence of Prime Minister Sushil Koirala and Indian Prime Minister Narendra Modi on Tuesday.
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