Kathmandu: The government has approved the acceptance of foreign loans totalling 185 million US dollars (around Rs 27.5 billion) to strengthen the country’s digital infrastructure and support sustainable development initiatives. The decision was made during a Cabinet meeting held on Monday.
The Cabinet endorsed a proposal to secure funding from two major development partners to advance the “Digital Nepal Transformation” project. Under this initiative, Nepal will receive 50 million US dollars from the World Bank and 40 million US dollars from the Asian Development Bank, bringing the total loan for the digital project to 90 million US dollars.
The funds will be used to modernize Nepal’s digital systems and make public services more technology-driven and accessible.
In addition, the Cabinet approved a concessional loan of 95 million US dollars from the World Bank for a “Sustainable and Inclusive Development” project. This initiative is expected to contribute to environmental balance, social inclusion, and the country’s long-term development goals.
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