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Nepal Secures USD 777 Million ADB Loan for Infrastructure

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By Shirish B Pradhan, Kathmandu   Dec 20, 2024 20:29

Nepal has signed agreements with the Asian Development Bank for USD 777.6 million in loans and grants for infrastructure projects in the energy and water sectors.
Nepal Secures USD 777 Million ADB Loan for Infrastructure
Kathmandu, Dec 20 (PTI) Nepal on Friday signed loan and grant agreements amounting to USD 777.6 million, equivalent to NRs 105.59 billion, with the Manila-based Asian Development Bank for infrastructure projects in the energy and water sector in the Himalayan nation.

Nepal's Finance Secretary Dr Ram Prasad Ghimire and ADB's Country Director Arnaud Cauchois signed the agreement for the projects that include phase two of water supply for the Kathmandu valley, strengthening power transmission and distribution, and another to modernise irrigation, a release said here.

The Kathmandu Valley Water Supply Improvement Project (phase 2) aims to secure safe and reliable water supply services for people in the Kathmandu Valley.

The South Asia Subregional Economic Cooperation (SASEC) Electricity Transmission and Distribution Strengthening Project focuses on meeting Nepal's growing energy demands while supporting green electricity exports.

Likewise, the Green, Resilient, Inclusive Development (GRID) programme to ensure that development activities are environmentally sustainable, resilient and inclusive, the release added.

The Irrigation Modernisation Enhancement Project (IMEP) focuses on modernising surface water irrigation systems of Nepal that can directly benefit families of the project area “enhancing agricultural productivity and climate resilience,” it added.
Source: PTI
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