Nepal and ADB sign in a loan document

by Mohan Nepali    December 15, 2008

Nepal government and the Asian Development Bank have signed in a loan paper in Kathmandu today.

The Bank has decided to lend Nepal a sum of eight billion and 241 million rupees to be used for local autonomy and community development, the agenda preferred by the bank.

According to reports, the money will be spent on advocacy on community issues, publication of reports, seminars and other awareness programs. However, it is not known what percent of the money will go to the ADB experts and consultants and to Nepali experts and consultants.

Likewise, the interest rate is not known.

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