ADB to provide loan for road expansion in eastern Nepal

File: Expansion work is underway along Narayangadh-Muglin road in Chitwan.

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.

Published on November 20th, Tuesday, 2018 7:00 PM

Download Onlinekhabar App. Android click here & IOS click here . Keep in touch with us on Facebook, Twitter & YouTube.

Related News Nepal pleads with ADB for additional support Finance Minister heading to Fiji for ADB meeting ADB projects Nepal’s economic growth at 6.2% for this fiscal year

No Comments

Leave a Reply

Your email address will not be published.

You May Like This