Foreign grants almost halved in FY 2021/22

January 4, 2023, 12:37:51 PM |

KATHMANDU: The amount received by the Nepal government from the donor community under multilateral/bilateral foreign grants decreased drastically in the last financial year.

The amount received by the government in the financial year 2021/22 from the Nepal government’s total foreign grants (excluding direct payment) is decreasing compared to previous years.

The government received about Rs 14.13 billion under multilateral, bilateral foreign grants in the year FY 2021/22. Comparing the last three financial years, it seems that the amount received as foreign grants was the lowest in the last year.

The Financial Comptroller General Office (FCGO) has shown that according to the annual distribution of income and expenditure of the Government of Nepal, according to the financial statement of 2021/22, the amount received for foreign grants is very low.

According to the FCGO, the government received Rs 13.25 billion or 93.74 percent of the total grants as multilateral foreign grants last year. Similarly, under the heading of bilateral foreign grants, only Rs 884.6 million i.e. 6.26 percent of the total foreign grants were received. In the year 2021/22, no amount was received under the heading of other foreign grants.

In the year 2020/21, the government received Rs 26.8 billion under the total foreign grants. Compared to the previous year, the government received almost half of the foreign aid, i.e. Rs 12.67 billion rupees less. Out of the total amount of grants, the share of multilateral grants is 19.35 billion rupees, i.e. 72.24 percent.

In the same year, Rs 7.42 billion or 27.71 percent of the bilateral foreign grants were accounted for. In the year 2020/21, Rs 14.38 million was received under ‘other’ foreign grants. The government received Rs 19 billion as foreign aid in the year 2019/20. This amount is the amount received apart from the direct payments.

In the year 2019/20, Rs 5.4 billion or 28.14 percent was received under the heading of bilateral foreign grants. During the same period, Rs 13.61 billion or 70.92 percent came in the form of multilateral foreign grants. Similarly, Rs 180.03 million was received under the heading of ‘other’ foreign grants.

According to the report of FCGO, in the year 2021/22, a total of Rs 158.55 billion was mobilized from foreign aid. Among the top 10 development partners, the Asian Development Bank has the highest contribution of 31.56 billion rupees or 19.97 percent. Likewise, the International Development Association’s contribution is 25.91 billion rupees, i.e. 16.39 percent.

Fiscal Nepal |

Wednesday January 4, 2023, 12:37:51 PM |