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The Finance Ministry has issued directives that all UNDP-assisted programs open their accounts with Nepal Rastra Bank (NRB) instead of Standard Chartered Bank as presently. A source at the ministry said that the decision was part of the government's initiative to bring about transparency in foreign aid. Similarly, the UNDP-funded projects in the districts will have to operate their accounts through local branches of the state-owned Nepal Bank Limited and Rastriya Bainjya Bank. Nepal received nearly $15 million worth assistance in 27 UNDP-assisted projects in 2002. Nepal Standard Chartered Bank following the government's directives.


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LATEST ISSUE
591
(10 FEB 2012 - 16 FEB 2012)

SPECIAL
Travel Nepal

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