At a workshop ‘Bilateral Relations and Economic Cooperation’ jointly organised by the Delegation of the European Union to Nepal and the Association of former Career Ambassador of Nepal (AFCAN) here today, Ghimire said that support of international community was indispensible to upgrade Nepal as a developing country.

Recalling that the European Union (EU) has been working through UN agencies and civil society to implement a broad spectrum of development cooperation activities in areas such as poverty reduction, human rights, preservation of culture of indigenous communities, environmental conservation and sustainable development, basic and primary education, urban development, food security, conflict mitigation and peace building among others, Vice-Chairman of the National Planning Commission, Rabindra Kumar Shakya, expressed the belief that EU will continue the support in the sectors in the days ahead.

Shakya said that the Commission recently released the Thirteenth Plan with the target to graduate Nepal to the status of a developing country within 2022 and added that Nepal is undertaking measures to reduce poverty from the present level of 23 per cent to 18 per cent at the end of the current Thirteenth Plan.

Shakya said that constructive cooperation of the UN as well as other international community was indispensible for the overall development of the country.

On the occasion, Ambassador Alexander Spachis, Head of the Delegation of the European Union to Nepal, said the EU has been supporting in Nepal’s peace process, in the education sector, and in economic capacity building. Due to its current state of economic development, the EU has been providing the most favourable trade terms to Nepal, and supports developing the trade capacity of Nepal.
Spachis said that the EU is the biggest provider of the development aid to Nepal and added that EU members have been providing markets to the Nepali products.
He said, “EU is a close friend of Nepal but without immediate and minute interests in Nepal. Therefore, we follow Nepal’s political development closely, but do not set preferences in the internal politics of Nepal.”

Of the total assistance, 125 million US dollars will be provided as grant assistance and remaining 82.26 million US dollars as loan assistance.

The WB assistance will be used for the ongoing implementation of School Sector Reform (Rs. 9,612 million), Poverty Alleviation II (Rs. Rs.7, 690 million) and for Kali Gandaki A Hydropower Plant Project (Rs. 2,620 million).

Separate Memorandum of Understanding (MoU) to this effect was signed amidst a programme at the Finance Ministry today.

Finance Secretary Shantaraj Subedi and WB Country Manager for Nepal Tahaseen Sayed signed on the MoU on behalf of the respective sides.

Also on the occasion, Secretary Subedi expressed sincere appreciation to the WB for the assistances and for its continued assistance in the socio-economic development of Nepal.

KATHMANDU: The price of gold increased by Rs 500 per tola in the local market on Sunday. The price of yellow precious metal was traded at Rs 50,000 per tola on Saturday. The gold is being traded at Rs 50,500 in the local market today, according to Nepal Gold  and Silver Dealers’ Association.

BIRATNAGAR: Nepal’s Finance Minister Shankar Koirala, a bureaucrat turned minister, has announced to bring full budget within two/three days. He however said that the new budget in not likely to unveil any new program.

Inaugurating the 59th anniversary of Morang Merchant´s Association on Saturday, he said the new budget would allocate budget for CA elections and giving a life to the mega projects.

Koirala also said that the government would also work to establish foundations for long-term economic development.