ADB provides Rs 105.61bn for Nepal's development projects

KATHMANDU: Asian Development Bank (ADB) has agreed to provide Rs 105.61 billion in assistance to implement three different projects. Of this amount, Rs 6.52 billion is in grants, with the remaining amount in concessional loans.

The funds will be used for the second phase of the Kathmandu Valley Water Supply Improvement Project, the South Asia Subregional Economic Cooperation (SASEC) Power Transmission and Distribution System Strengthening Project, and the Inclusive Development Strategy.

Finance Secretary Ram Prasad Ghimire and ADB Country Director for Nepal, Arnaud Cauchois, signed the loan and grant agreement at a programme organised at the Ministry of Finance today.

On the occasion, Finance Secretary Ghimire expressed gratitude for ADB's assistance in Nepal's socio-economic development.

ADB Country Director Cauchois stated that ADB has been supporting Nepal in agriculture, natural resources, rural development, energy, public sector management, drinking water, and urban infrastructure construction.

By RSS