Kathmandu, November 20
Asian Development Bank has agreed to provide $343.9 million as development assistance for two projects.
At a programme organised at the Ministry of Finance on Tuesday, Secretary Rajan Khanal, on the behalf of the government of Nepal, and Country Director, Nepal Resident Mission, Mukhtor Khamudkhanov, on the behalf of ADB, signed the agreement to this effect.
A total of $180 million from the $343.9 will go towards the for South Asia Sub-Regional Economic Cooperation (SASEC) Highway Improvement Project and $163.9 million towards the Disaster Resilience of School project.
The loan proceeds available under SASEC Highway Improvement Project will support the rehabilitation and widening of about 87 kilometres of the East-west Highway between Kanchanpur and Kamala in eastern Nepal.
The Disaster Resilience of School Project will support the reconstruction of heavily damaged schools, retrofitting of unsafe schools and strengthening the institutional capacity for disaster resilience.
