World Bank raises loan interest rate to Nepal by 0.75%

 Kathmandu, July 29 — The World Bank has increased the interest rate on its loans to Nepal following a rise in the country’s per capita income.

At a seminar on foreign aid organized by the Ministry of Finance and the Nepal Association of Financial Journalists (NAFIJ) today, Dhaniram Sharma, Chief of the International Economic Aid Coordination Division, announced that the interest rate on World Bank development loans has gone up by 0.75%, effective from July.

This brings the new interest rate to 1.5%. Sharma also mentioned that the repayment period has been shortened — previously loans had to be repaid within 40 years (or 38 years in some cases), but now this has been reduced to 30 years.

The division emphasized that development projects will continue to align with the strategies of both the World Bank and the Asian Development Bank. Sharma added that since development partners themselves assess the quality and outcomes of projects, Nepal cannot choose projects solely based on its own demands.

During the event, Dolendra Sharma, Under Secretary at the Ministry of Finance, also shared insights on Nepal’s foreign aid mobilization practices.

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