Asia-Pacific

ADB to provide assistance for projects in Nepal

(Xinhua)
Updated: 2010-10-27 12:47

KATHMANDU -- The Asian Development Bank (ADB) has agreed to provide a loan and grant assistance of US$80 million to the government of Nepal for the implementation of the Secondary Towns Integrated Urban Environmental Improvement Project and Kathmandu Sustainable Urban Transport Project.

Related readings:  Nepal Likely to Join IMF Program in 2011  Nepal teen stands tall as world's shortest man  Nepal's 8th-round poll fails to elect new PM  Foreigners among 14 killed in Nepal plane crash

According to Wednesday's The Rising Nepal daily, the financing agreements to these effects were signed between the government of Nepal and the ADB here on Tuesday.

As per the agreement, the ADB will provide around 60 million dollars loan to the Secondary Towns Integrated Urban Environmental Improvement Project and 10 million dollars loan and 10 million dollars grants to the Kathmandu Sustainable Urban Transport Project, according to Nepal's Ministry of Finance.

The Secondary Towns Integrated Urban Environmental Improvement Project aims to improve the quality of life and help achieve higher and socially inclusive economic growth in key regional centers in Nepal through improved and affordable municipal services delivered effectively, efficiently and reliably by accountable project municipalities.

Similarly, the objective of the Kathmandu Sustainable Urban Transport project is to improve the quality of urban life in the capital city by delivering a more efficient, safe and sustainable urban transport system, favoring local economic growth and addressing climate change and air pollution mitigation.

Nepal has appreciated the ADB for the continued support to the socio-economic development of the country.