The Ministry of Finance (MoF) released the amount to the CAA, Secretary of the Ministry of Culture, Tourism and Civil Aviation Prem Kumar Rai told the National News Agency (RSS).
Prime Minister KP Sharma Oli had laid the foundation stone for the estimated Rs 21.47 billion Project on April 13 this year amid the presence of the top leaders of the major political parties
A bilateral agreement on soft loan was inked on March 21 between the Government of Nepal and
during the PM Oli's visit to China,
according to which Nepal
has signed a loan agreement for Rs 16.87 billion with the EXIM Bank at 1.5 per
cent interest rate for the construction of PRIA.
EXIM Bank, however, will not charge any interest on the remaining Rs 5.87 billion.
Secretary Rai expressed his confidence that with agreement between the MoF and CIA, the construction of the PRIA will pick up the pace.
The expanse of the Airport straddles 3,700 ropani of land in Pokhara Sub Metropolis 14 and 18.
The airport will be built in the next four years as per the national master plan.