Nepal received Rs 60.53 billion in foreign aid to combat the Covid-19 pandemic in the previous fiscal year (mid-July 2019 to mid-July 2020), but over 91 percent of it was in the form of a loan, according to the Ministry of Finance.
According to the ministry, 6% of the aid was received in the form of technical assistance, 2% in the form of a grant, and 1% in the form of a direct payment.
According to a report released by the ministry about the country’s reliance on foreign aid, Nepal received Rs 236.23 billion in foreign aid in the fiscal year, with about 25.5 percent of it earmarked for the Covid-19 response.
94.4 percent of the total assistance received came from the Asian Development Bank, the International Monetary Fund, the European Union, the World Bank, and the United States of America.
Meanwhile, the Ministry of Foreign Affairs estimates a 21.2 percent rise in foreign assistance earned last fiscal year compared to the previous year. International assistance accounted for 23.3 percent of the annual spending in the fiscal year 2019/20.