International Monetary Fund Approves Nepal’s 46 Billion Loan

Madhyabindu Online

The International Monetary Fund (IMF) has approved a zero interest rate concessional loan of 282.42 million SDR (US ३ 395.9 million, approximately Rs. 46.70 billion) for Nepal. Out of the loan, US ११ 110 million will be received immediately in the first installment and the remaining amount will be received in various installments, according to the Ministry of Finance.

The assistance will help reduce the negative impact of COVID-19 on public health and economic activities, protect the poor, maintain macroeconomic and financial stability, and sustain Nepal’s reform efforts on sustainable development and poverty alleviation, the ministry said.