Kathmandu. The Government of Nepal has decided to take additional foreign loan of Rs. 19.60 billion.

The cabinet meeting has also given the right to take loan by forming a negotiating team to take foreign loan of Rs 11.60 billion for agriculture and Rs 8 billion for tourism.

According to cabinet sources, a negotiating team has been formed on the proposal of the Ministry of Finance to lend Rs 11.60 billion to the International Fund for Agricultural Development (IFAD). IFADA is a financial institution affiliated with the United Nations, providing loans and assistance in the agricultural sector.

Similarly, the Ministry of Finance has decided to take a loan of Rs 8 billion from the World Bank for the tourism sector.

As per the proposal passed by the Council of Ministers, the tourism sector loan is being taken for the Sustainable Tourism Growth 9STENPA program in the protected areas of Nepal. Under this, in the first phase, five protected areas will be identified and destination development and integrated tourism will be developed.