South Asia

Nepal inks $140 million concessional loan with World Bank

KATHMANDU: Nepal inked a concessional loan agreement of $140 million with the World Bank (WB) on Tuesday.
A concessional loan is a debt instrument where more favourable terms are agreed upon for the borrower than the marketplace.
The Nepal Cabinet meeting on Tuesday decided to approve $140 million in concessional loan, according to Gyanendra Bahadur Karki, Government spokesperson and Minister for Information and Communication.
The loan will be received from the International Development Association of the World Bank Group for the Digital Nepal Acceleration Project, Karki said.

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