The International Development Association (IDA) of the World Bank group has agreed to provide US $ 75.5 million to Nepal for a project to
restructure the financial sector.
This aid will support the ongoing government efforts to strengthen the
financial sector, ensure continued macro-economic stability and promote the private sector.
According to a statement issued by the Finance Ministry, the assistance consists of $68.5m as loan and $7.0m as grant for a period of five years starting from 2004.
The loan is to be repaid within 30 years with a ten year grace period.