Over US$ 1,187.2 mn for public investment program | Daily News

Over US$ 1,187.2 mn for public investment program

The government has entered into 24 financing commitment agreements with foreign development partners and lending agencies for development activities from January 1 to August 31, 2017 worth US dollar 1,187.2 million, to support the public investment program, in-line with the macroeconomic targets set by Medium Term Macro Fiscal Framework: 2015-2018.

Of the total commitments made during this period, US dollar 1,020.2 million was made in the form of loans and US dollar 167 million was made as grants, according to the Finance Ministry latest report.

From the commitments made for the development activities, Japan has made the highest commitment during this period which amounted to US dollar 431.3 million, followed by India (US$ 320.0 mn), World Bank (US$220.5 mn), China (US$ 58.0 mn) and European Investment Bank (EIB) (US dollar 53.4 million) respectively. Apart from the external financing obtained for development activities through official development assistance.

Total foreign disbursements made through development projects and programmes during the period from January 1 to August 31, 2017 was US dollar 901.6 million (or Rs. 136,979.6 mn), of which, US dollar 19.6 mn (or Rs. 2,980.3 mn) was made as grants and US dollar 882.1 million (or Rs. 133,999.3 mn) was made as loans.

Majority of the total disbursements were made by China, which is almost 35 percent, followed by Asian Development Bank (22%) and the World Bank (16 %). 


 

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