Bank is not a business firm: NRB governor

Posted on: June 30, 2017 | views: 281

Nepal Rastra Bank (NRB) Governor Dr. Chiranjibi Nepal has stressed on the need of enhancing the efficiency and transparency of banks and financial institutions. 

Inaugurating the integrated transactions of the Kumari Bank Limited  today, the central bank governor called on the banks to reach the local levels (village level) as soon as possible since big economic activities are going to take place at the local level and big capital would be required there following the local level elections.

ADB to provide 150 million dollars loan to improve power distribution, efficiency in Nepal

The Asian Development Bank’s (ADB) Board of Directors has approved 150 million dollars loan to help improve the reliability and efficiency of Nepal’s electricity supply and distribution through the Nepal Electricity Authority (NEA). 

Issuing a press release today, the ADB said it will also administer a 2 million dollar's technical assistance grant from the Japan Fund for Poverty Reduction (JFPR) financed by the Government of Japan to strengthen the capacity of Nepal’s energy sector to deliver Gender Equality and Social Inclusion (GESI) results. 

Reliable and sustainable electricity distribution and service is an important aspect to Nepal’s growth and development, as well as in the improvement of the quality of life its people, said Jiwan Acharya, an ADB Senior Energy Specialist. 

Moreover, it said the electricity supplies are expected to increase rapidly during the next several years through various hydropower projects nearing completion and imports from India through cross-border line.