AIIB will invest Rs 114 billion in Nepal infrastructure development: Minister

Kathmandu, June 19

The Asian Infrastructure Development Bank will invest Rs 114 billion in infrastructure development in Nepal, says Finance Minister Gyanendra Bahadur Karki.

Speaking with journalists upon his arrival at the Tribhuvan International Airport from the AIIB meeting held in Seoul of South Korea on Monday afternoon, the Minister said Nepal this year would receive Rs 28 billion for various infrastructures in Terai region and Rs 10 billion for electricity upgrading in Kathmandu Valley from the Bank established with initiatives of China.

Likewise, the Bank will provide Rs 22 billion to upgrade the Samakhusi-Tokha road in Kathmandu, Rs 16 billion to expand the Pokhara-Beni-Jomsom road and Rs 18 billion to construct the Tamakoshi III hydro-electricity project.

Finance Secretary Shanta Raj Subedi, who was accompanying him, said the AIIB was eager to support infrastructural development in Nepal.


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