UK pledges 23.5m pounds aid to Nepal

- POST REPORT, Kathmandu

Jun 9, 2014-

The United Kingdom has pled-ged a grant worth 23.5 million pounds (Rs 3.73 billion) to Nepal for access to Finance for the Poor Programme.  

Madhu Kumar Marasini, joint secretary of the Ministry of Finance, and Philip Smith, Acting Head of the Department for International Development (DFID), signed a memorandum of understanding (MoU) regarding the aid on behalf of the government and the DFID respectively on Monday. “The objectives of the programme are to improve access to finance for micro-enterprises and small farmers, mainly through micro-finance institutions,” the Finance Ministry said in statement.

The programme will be implemented in Manang, Humla, Dolpa, Kalikot, Mugu, Jajarkot, Bajhang, Bajura and Darchula. A steering committee consisting of representatives from the Ministry of Finance, National Planning Commission, Department of Cooperatives, Nepal Rastra Bank and DFID Nepal will provide overall guidance and steer the programme.

The programme has five major components, including financial access for small and medium enterprises and financial inclusion.

Published: 10-06-2014 12:51

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment