A negotiation committee was established by the government to approve concessional loans totaling 15 billion 29 crores.

The government has chosen to establish a negotiation team headed by the Joint Secretary of the Ministry of Finance in order to discuss accepting the Asian Development Bank's concessional loan assistance for projects aimed at modernizing and improving irrigation.

The Council of Ministers' decision was made public by the government's spokesperson, Prithvi Subba Gurung, on Thursday.

"A negotiation team headed by the Joint Secretary of the Ministry of Finance has been established to negotiate on behalf of the Government of Nepal with respect to the acceptance of USD 150.29 billion in concessional loan assistance from the Asian Development Bank for irrigation modernization and enhancement projects," he stated.

 He stated that the appointment of Govind Gurung, the CEO of Krishi Bikas Bank, to the open position of director on the Employees' Provident Fund Board of Directors was another decision made at the meeting.

"Gobind Gurung, the chief executive officer of Krishi Bikas Bank, has been nominated to fill the vacancy on the board of directors of the Employees Provident Fund," he stated.