Govt to raise Rs 6 billion internal debt

Kathmandu. The government has decided to raise internal borrowing of Rs 6 billion.

According to the Public Debt Management Office under the Ministry of Finance, the government is going to raise internal debt of Rs 6 billion for five years through bidding for development bonds. The tender for the development debentures, 2087 BS, will take place on March 11 and the issuance will take place on March 11. Interested bidders can apply for the debentures from banks and financial institutions, non-bank financial institutions, insurance companies, corporate entities and Nepalese citizens.

Loans can be taken and given by pledging bonds. According to the office, the interest rate of the bonds will be determined through the bidding. The interest rate quoted by the bidder will be arranged in small to large order. The Bonds will be issued at the same single interest rate to all bidders below the said interest rate.