FinMin calls for proposals for $1.089m GEF funds for Nepal
KATHMANDU: The Ministry of Finance (MoF) has called for proposals for funds received from the Global Environment Facility (GEF).
Issuing a public notice, the Foreign Aid Coordination Division of the ministry has invited proposals for the utilisation of the sum of $1.089 million received from the GEF.
The division has requested submission of project proposals to utilise the remaining funds allocated to Nepal from the GEF Global Biodiversity Framework Fund.
The MoF has urged all agencies to submit project proposals to receive funds flowing through the national budget system. Project proposals have to be submitted to the MoF by November 30.
The GEF comprises several multilateral funds working together to address the planet’s most pressing challenges in an integrated way. Its financing helps developing countries address complex challenges and work towards meeting international environmental goals.
Over the past three decades, the GEF has provided more than $26 billion in financing, primarily as grants, and mobilised another $153 billion for country-driven priority projects, according to the GEF website.
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