Announcement of IDA Approves Six Million US Dollars Credit to Nepal for Technical Assistance on June 6, 1983

I FOR IMMEDIATE RELEASE •World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.•Telephone: (202) 477-1234 // IDA NEWS RELEASE NO. 83/95 Co~tact: Hugh Blackman June 6, 1983 (202) 477-3573 IDA APPROVES $6 MILLION CREDff .TO NEPAL FOR TECHNICAL ASSISTANCE Nepal's capacity to prepare and implement development projects will be improved with the support of a credit of SDR 5.6 million ($6 million) from the International Development Association (IDA). The credit from,the World Bank's affiliate for concessionary lending will be· to assist Nepal in project identification, preparation, and illlplementation. This will enable the country to make more effect~J~~--::•.1se of domestic and external resources for the development of its economy.·-- It is expected that the credit will finance subprojects which will • include: preparation of investment projects suitable for external financing; technical assistance for implementation of investment projects; sectoral stu,dies; and strengthening of institutions. While emphasis will be placed on ag;riculture, the IDA credit will be flexible enough to accommodate the technical assistance needs in other sectors. The IDA \\credit is for 50 years, includi.ng 10 years of gr ace; it 1 carries no inter est but has a small annual service charge (0.5% on the undisbursed balances of the credit and 0.75% on the disbursed balances). NOTE: IDA credits are denominated in SDRs (Special Drawing Rights), which are valued on the basis of a "basket" of currencies. The U.S. dollar equivalent of the SDR amount of the IDA credit reflects the exchange rates existing at the time of the negotiation of the credit. - 0 - •