KATHMANDU: The cabinet has announced a series of six key decisions covering infrastructure funding, financial investment, and legislative changes. Government spokesperson Sasmit Pokharel stated that the administration has formally accepted a concessional loan of 285 million USD and a grant assistance of 20 million USD from the Asian Development Bank (ADB) specifically for road improvement projects.
In the financial sector, the government has granted approval for additional rights share investments in Nepal Reinsurance Company Limited. To support the agricultural sector, the cabinet has included bio-stimulants and commercial organic fertilizers in the list of essential materials and approved a new fertilizer control order.
The government has also authorized the formation of a high-level delegation to represent the country at the upcoming United Nations Climate Change Conference (COP) to be held in Turkey. Furthermore, the cabinet approved the publication of a notice in the Nepal Gazette to extend the deadline for landowners and tenants to submit applications for land distribution until mid-November 2028 and mid-July 2029, respectively.
Finally, the cabinet decided to recommend to the President the issuance of ordinances aimed at amending the Press Council Nepal Act 2047 and various laws related to culture, tourism, and civil aviation.
