Stories Tagged 'Foreign aid'
Nepal’s foreign aid disbursement grew 16 percent to $1.62 billion in the last fiscal year that ended mid-July, with majority of the funds going towards economic reform, education, urban development, health and local development.
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Five out of seven provinces saw their foreign aid disbursement grow in the last fiscal year. According to the Development Cooperation Report, Province 3, despite a drop of 6.28 percent in aid disbursement, stood the top recipient of the development assistance. It received aid amounting to $332.47 million in 2017-18. 
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The government of Nepal has been making efforts to channelise the entire foreign aid budget through the national system, but nearly one-third of the aid is off-budget.
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Developmental Partners should channel more of their aid through the budgetary system
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Finance Minister Yubaraj Khatiwada will seek a significant increase in assistance from some of the multilateral and bilateral donors during his upcoming meeting with aid agency representatives in Washington, Finance Ministry officials said.
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The government has proposed foreign aid through a basket fund in which donors put their resources and the federal administration allocates it to provincial governments and local units as conditional grant.
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