Govt to accept $110m loans, $15m grants from ADB for irrigation project

KATHMANDU: The decisions from the Council of Ministers meetings held on November 25 and 29 were made public on Sunday.

Minister for Communication and Information Technology, Prithvi Subba Gurung, announced that approval has been granted for a framework agreement on fiscal mobilisation under the public investment financing of the Government of Finland.

Additionally, Gurung stated that the cabinet has decided to allow the use of national forest areas for various projects and power transmission line development.

The meeting also approved the visit of the Mayor of Pokhara Metropolitan City, Dhanraj Acharya, to South Korea for a study visit on waste management.

The cabinet has approved $22 million in grants and $10 million in loan assistance from the Asian Development Bank (ADB) for the Climate Resilient Landscapes and Livelihoods Project.

Government Spokesperson Minister Gurung mentioned that the meeting decided to accept $110 million in subsidised loans and $15 million in grants from the ADB for the implementation of the Mechanised Irrigation Innovation Project. The visit of the Minister for Industry, Commerce and Supplies, Damodar Bhandari, to India for participation in the 29th Partnership Summit in New Delhi was also approved.

Furthermore, the government has set Rs 585 per quintal as the minimum support price for sugarcane, including the cost of production, transportation, and profits.

The cabinet has approved a memorandum of understanding (MoU) to be signed between the Government of Nepal and the International Water Management Institute. Another MoU between the Government of Nepal and the International Centre for Research in Agroforestry and the Centre for International Forestry Research was also approved.

Spokesperson Gurung shared that the cabinet meeting endorsed the government delegation to visit China during Prime Minister KP Sharma Oli's official visit from December 2 to 5.