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Nepal sees 30 percent rise in foreign aid in fiscal 2016-17: report

KATHMANDU, Jan 1, 2018 (BSS/Xinhua) -- Nepal saw 30 percent rise in disbursement of official development assistance (ODA) received from multilateral and bilateral donors in the last fiscal year 2016-17, a finance ministry report said here on Sunday.

A total of 1.39 billion U.S. dollars was disbursed in the last fiscal year that concluded in mid-July. In the previous fiscal 2015-16, disbursement of foreign aid was 1.07 billion U.S. dollars.

According to the report, foreign aid disbursement rose significantly in the last fiscal year compared to previous six years when foreign aid disbursement remained between 960 million U.S. dollars and 1.1 billion U.S. dollars.

"There has been noticeable rise in foreign aid disbursement since fiscal 2014-15 which is due in part to the inflow of aid following the disastrous earthquake in 2015," the report said.

Nepali Finance Minister Gyanendra Bahadur Karki said that foreign assistance has been an important part of Nepal's development efforts. "We want foreign aid to be mobilized in line with Nepal's constitutions and laws," he said.

The Nepali government has long been urging donors to channelize their aid through government agencies so that how the aid has been spent and whether the aid has been effective, could be tracked.

But, the report said that as much as 73 percent of aid was disbursed through government agencies, the rest was channelized through non-government actors such as non-government organizations and community-based organizations.

Among the multilateral donors, the World Bank topped the list with contribution of 346 million U.S. dollars in the last fiscal.

Other multilateral donors in top five positions include: the Asian Development Bank, the United Nations Country Team, the European Union and the International Fund for Agriculture Development.

Among the top five bilateral donors, the United States aid agency, USAID topped the chart with 134 million U.S. dollars.

The United Kingdom, Japan, India and China are other countries in the list of top five donors in the last fiscal year, according to the report.