The government has entered into 10 financing commitment agreements with foreign development partners and lending agencies from January 1 to April 30, 2017 amounting to US$ 244.1 million to support the Public Investment Program (PIP) in accordance with the macroeconomic targets envisaged in the Medium-term Fiscal Framework 2017-2020.
Of the total commitments made during this period, US$ 174.3 million and US$ 69.8 million were made in the forms of loans and grants respectively. Out of the commitments made for the development activities, the International Development Association (IDA) of the World Bank has made the highest commitment during January-April 2017amounting to US$ 119.4 million
followed by the European Investment Bank (US$ 53.4 million), European Community (US$ 44.8 million), Korea (US$ 13 million) and Japan (US$ 11.2million). From the sectoral perspective of the commitments, the highest amount has been committed for agriculture sector (US$ 153.8 million) followed by water supply and sanitation (US$53.4 million) sector during this period.
Total foreign disbursements made through development projects and programmes from 1st January 1 to April 30, 2017 was US$ 440.6 million (or Rs.66,514 million) of which, US$ 8.7 million was made as grants and US$ 431.9 million was made as loans. The majority of the total disbursements were made by China, which is almost 40 percent, followed by World Bank (17
percent) and Asian Development Bank (16 percent) .
From the total disbursements made during the period, the highest amount was disbursed to roads and bridges sector, which was almost 50 percent, followed by power and energy (13 percent), water supply and sanitation (9 percent) and health and social welfare (7 percent) sectors.
As at April 30, 2017, the total undisbursed balance of foreign financing available from already committed loans that are to be utilized in next 3-5 years was US$ 8,022.2 million (or Rs. 1,217,251.9 million).
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