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  • Financial Assistance Archives - Nepali Sansar https://www.nepalisansar.com/tag/financial-assistance/ A Site for Global Nepali Community Mon, 26 Nov 2018 11:47:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 https://www.nepalisansar.com/wp-content/uploads/2020/04/fav.png Financial Assistance Archives - Nepali Sansar https://www.nepalisansar.com/tag/financial-assistance/ 32 32 South Korea to Support Nepal in Smart City Development https://www.nepalisansar.com/news/south-korea-support-nepal-smart-city-development/ https://www.nepalisansar.com/news/south-korea-support-nepal-smart-city-development/#respond Wed, 20 Sep 2017 11:40:02 +0000 http://www.nepalisansar.com/?p=4079 September 20, 2017 As the Government of Nepal completed its most-awaited local elections, help started pouring

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    September 20, 2017

    As the Government of Nepal completed its most-awaited local elections, help started pouring in for the development of the country’s local bodies that are set to change the phase of the country.

    In a recent update, the South Korean Government has come forward to extend its support for transforming six local tiers of Nepal into smart cities.

    An official information in this regard was revealed at the International City Summit and Mayors’ Forum held from September 10-13, 2017 at South Korean capital Seoul.

    Under the plan, South Korea will be offering diverse financial assistance for the development of two metropolitan cities, Pokhara and Kathmandu, and four municipalities including Nilkantha in Dhading, Dhulikhel in Kavre, Ramgram in Nawalparasi and Bhaktapur.

    Ramgram Municipality’s Mayor, Narendra Kumar Gupta confirmed this saying the South Korean Government will be providing a strategic framework for the development of the local bodies.

    Gupta further informed that the information on diverse strategies for sustainable development in transforming Nepal’s six markets into smart cities was discussed at the Summit.

    The summit held in South Korea witnessed a participation of 130 Mayors from 50 different countries. As part of the meet, concerned South Korean officials provided an extensive report on South Korea’s all-round development works spanning 35 years to the participants.

    The six-member Nepali delegation, including the Chiefs of the local tiers, attended the event as part of their tour to the Science and Research Centre in South Korea.

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    Nepal Rethinks on Umbrella Pact with India https://www.nepalisansar.com/news/nepal-rethinks-umbrella-pact-india/ https://www.nepalisansar.com/news/nepal-rethinks-umbrella-pact-india/#respond Thu, 03 Aug 2017 11:11:17 +0000 http://www.nepalisansar.com/?p=3320 August 3, 2017 As the Nepal-India ‘umbrella agreement’ is about to expire on Saturday, the Nepal

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    August 3, 2017

    As the Nepal-India ‘umbrella agreement’ is about to expire on Saturday, the Nepal Government is currently thinking on whether to extend the small development projects undertaken by the Indian Government as per the agreement.

    Under the agreement that was signed in 2003, the Indian Embassy has been extending its direct support to the local bodies of Nepal with regard to developmental activities, such as building educational institutions and hospitals in those areas.

    The project enables Nepali local bodies to directly reach out to the Indian Embassy for financial assistance up to Rs 50 million for various developmental projects.

    However, the new structure formed following the recent local body polls, restricts local units from receiving foreign funds directly from any bilateral or multilateral donors.

    According to a senior Finance Ministry official, the new constitutional structure allows local bodies to receive direct financial assistance only from the provincial or central governments.

    “We have already communicated this to the Indian side. But the Indian side has been insisting on extending the provision for a year, suggesting a modification to the MoU after the provincial elections,” said the official.

    While confirming that ongoing projects would continue, he also clarified, “for the new ones, we have to either wait until the provincial elections or make a full-fledged institutional arrangement.”

    Expressing the Ministry’s unwillingness to discontinue the provision, the official said that the Indian side will have to reach an agreement with the central government for continuation of the project.

    Some other Nepali officials are of view that giving direct access to India will also stimulate other countries to make similar proposals.

    Meanwhile, an Indian Embassy official said that they have not received any official confirmation from Nepal authorities in this regard. “Until the institutional arrangement is made, we will not provide grants and will continue the existing projects. But we will start distributing grants once new arrangements are made,” added the Indian official.

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