Govt signs agreement with ADB to receive $160m concessional loan, $6m grant
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KATHMANDU: The government has signed a loan agreement of $160 million and a grant agreement of $6 million with the Asian Development Bank (ADB).
Finance Secretary Krishna Hari Pushkar and ADB Country Director for Nepal, Arnaud Cauchois, on behalf of their respective sides, signed the agreement at the Ministry of Finance, on Wednesday.
Finance Secretary Dr. Krishna Hari Pushkar @khpushkar and ADB Country Director Mr. Arnaud Cauchois today signed a loan agreement of USD 160 million and a grant agreement of USD 6 million for Urban Resilience and Livability Improvement Project. pic.twitter.com/sF080sDoUM
— MOF Nepal 🇳🇵 (@mofnepal) January 17, 2024
The 'Urban Resilience and Livability Improvement Project' will be implemented in Pokhara Metropolitan City, Janakpurdham Sub-Metropolitan City, and Lumbini Sanskritik, Devdaha, Sainamaina, Siddharthanagar, and Tilottama municipalities of Rupandehi district.
After the signing ceremony, Finance Secretary Puskar said the local levels that will benefit from the project will see positive impacts on finance and the entire ecosystem.
He added that the project would also improve the socioeconomic status of women and marginalised communities and help promote internship, skill and local art.
Likewise, the ADB's Country Director for Nepal said the project would help the concerned municipalities in their infrastructure development, tourism recovery and reform. He also said the project would boost the economic activities, leading to revenue increase, digital transformation and capacity building.
