Slow development works hits reimbursement

The reimbursement of the foreign assistance has not been received as per the expectations since the latter was not effectively mobilized.
As the government failed to expedite the development projects, the development partners have also been not able to reimburse as expected. Chief of the International Economic Assistance Coordination Division at the Ministry of Finance Baikuntha Aryal said that Rs 18 billion has been refunded in the six months of the current fiscal year. The government has stated in the budget statement for the current fiscal year that foreign grants of Rs 72.16 billion and foreign loan Rs 214.35 billion would be mobilized.
According to Aryal, the expected refund could not be taken as irrigation, hydropower and infrastructure projects dependent on foreign assistance could not make the desired progress. The commitment of Rs 99.37 billion has been received as of November 15 and out of this amount agreement has been reached for Rs 94.18 billion, the Ministry of Finance said.
The government had stated that the international economic assistance would be mobilized as per national requirement and priority. (RSS)