First Business News Portal in English from Nepal
KATHMANDU: Ministry of Finance (MoF) has launched the Development Cooperation Report, 2020 (DCR). As per the report, country mobilized an Official Development Assistance (ODA) worth US$ 2,003 million in 2019/20 compared to US$ 1,578 million in the previous year, an increase of 21.2 percent.
DCR, 2020 is a detailed account of development cooperation, both in the form of Official Development Assistance from various bilateral and multilateral development partners and cooperation received from International Non-Governmental Organizations (INGOs) in the Fiscal Year 2019/20, the period from 16 July 2019 to 15 July 2020.
It presents the composition and analysis of development cooperation received from various bilateral and multilateral development partners during the period and their engagement in various sectors, types and modalities of disbursement.
As per the report, there has been notable decline in the INGO contributions from US$ 215.3 million in 2018/19 to US$ 131.8 million in 2019/20. Of the total ODA disbursed in Nepal in 2019/20, US$ 512.9 million (25.6%) was disbursed specifically for COVID-19 response and recovery.
The Report highlights that of the total ODA, 69.9% was provided as loans, 18.7% as grants and 11.3% as technical assistance in 2019/20. The increasing share of loans in ODA reflects the result of Nepal’s eligibility in concessional loans from the Multilateral Development Banks and institutions.
There has been an important shift in the form of increase in the portion of budgetary support by the development partners. The portion of budgetary support has reached 36.9% of total ODA in 2019/20 from 15.2% in 2018/19.
The report also highlights significant improvement in the on-budget channeling of assistance. Of total ODA, US$ 1,672.9 million (83.5%) was channeled through on-budget in the review period compared to that of FY 2018/19 where 78.4% of ODA was channeled as on-budget funding.
The report emphasizes the importance of more integrated cooperation based on country results framework and use of national systems as well as the possible areas of improvement to enhance the effectiveness of development cooperation in Nepal.
Ministry of Finance is thankful to all the development partners, including international Non-Governmental Organizations, for their continued cooperation in regularly reporting and validating their development cooperation information in the AMIS, without which the publication of the report would not have a reality.
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