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.
Change bank
Nepal Samacharpatra,14 January
From The Nepali Press | From Issue #128 (January 17-23, 2003)
