Germany pledges Rs 4.2b in supportGermany has pledged Rs4.2 billion (36 million euros) in fresh funding for Nepal’s development endeavours during the two-day bilateral development cooperation negotiations that concluded here on Wednesday.
Germany has pledged Rs4.2 billion (36 million euros) in fresh funding for Nepal’s development endeavours during the two-day bilateral development cooperation negotiations that concluded here on Wednesday.
In a joint statement, the Ministry of Finance and the German Embassy in Kathmandu said that the German the fund will be used to support sustainable economic development and trade, health and energy efficiency and renewal energy.
Besides, Germany is supporting Nepal in the field of earthquake recovery and local governance, committing an additional Rs4.2 billion through its two agencies.
Under the new commitment, 20.5 million euros will be allocated to the energy sector and 5 million euros to health. With the latest commitment, the total German financial support to Nepal has reached around 1.2 billion euros since 1961, said the statement.
The focus of the cooperation will remain on the rural areas in Nepal’s mid- and far-western regions, with an additional support to selected districts that were severely affected by the 2015 earthquakes, it added.
The biggest single new project supported by this year’s commitment is the 16-million euro Lekhnath-Damauli transmission line project which will be a key for Nepal’s grid development in cooperation with Nepal Electricity Authority. Another major commitment will allow the continuation of Germany’s support for energy efficiency with the Ministry of Energy as a lead partner, said the statement.
In the priority area of health, German Development Cooperation continues to support the National Health Sector Strategy and aligns its contributions to the priorities and timelines of the Government of Nepal, Ministry of Health.