Kathmandu, June 11
The government plans to encourage development partners to spend in small projects through collective fund.
The recently enacted Foreign Aid Mobilisation Policy 2019 states that development partners will be encouraged to create a common collective fund, especially targeting small projects.
The government plans to later transfer the money collected in this fund to the national budgetary system and transfer it to the provincial and local governments with assurance that the funds will be spent on small targeted projects.
By encouraging development partners to invest in small projects through common collective fund, the government aims to reduce the administrative costs and also ensure effective mobilisation of foreign aid for small projects.
Similarly, the policy has also identified eight key areas where the government will mobilise international aid. Such sectors include infrastructure, education, health, drinking water and sanitation, production sector, employment generation and poverty alleviation, science and technology, environmental protection and climate change, disaster risk reduction and other areas where the private and cooperative sector lack capacity.
Similarly, the policy also states that the government will give first priority to foreign assistance that comes through the budgetary channel.
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Written by Sandeep Sen
This news first appeared on https://thehimalayantimes.com/business/invest-in-small-projects-through-collective-fund/ under the title “‘Invest in small projects through collective fund’”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.