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The Asian Development Bank (ADB) is going to support 1 trillion 5 billion 61 million rupees to implement three different projects. Out of the aid amount, Rs 6.52 billion is a grant and the remaining amount is a concessional loan.
It is said that the loan and grant will be used to implement the second phase of the Kathmandu Valley Water Supply Improvement Project, South Asia Sub-Regional Economic Cooperation (SASEC) Electricity Transmission and Distribution Strengthening Project and Inclusive Development Program.
Finance Secretary Ram Prasad Ghimire and ADB's Country Director Arno Koswa signed the loan and grant aid agreement in a program held at the Ministry of Finance on Friday.
On that occasion, Secretary Ghimire expressed his gratitude for the support received from ADB in the socio-economic development of Nepal. Director Koswa said that ADB is helping Nepal's agriculture, natural resources, rural development, energy, public sector management, drinking water, and urban infrastructure construction.
