Last updated at: (Beijing Time) Wednesday, November 28, 2001
ADB Approves 30-million-dollar Soft Loan to Nepal
Nepal is to receive a 30 million-dollar soft loan from the Asian Development Bank (ADB) to reform its bureaucracy, according to the Philippines-based bank on Wednesday.
Nepal is to receive a 30 million-dollar soft loan from the Asian Development Bank (ADB) to reform its bureaucracy, according to the Philippines-based bank on Wednesday.
A bank statement said that poor governance in the public sector has led to a demoralized bureaucracy, misallocation of budget resources and ineffective implementation of development programs.
The loan, from the bank's Special Funds resources, matures in 24 years and bears a minimal interest rate.