Nepal and ADB sign $165 million in financing agreements
Summary
Nepal and the Asian Development Bank signed financing agreements worth $165 million to support water supply, sewerage management, logistics reforms, and electricity infrastructure development amid the visit of ADB President Masato Kanda.
Key Points
- Nepal and ADB signed $165 million worth of project agreements during ADB President Masato Kanda's visit.
- ADB will provide $115 million concessional loan for Integrated Water Supply and Sewerage Management Project.
- A $50 million policy-based loan will support customs modernisation, logistics reforms and trade facilitation.
- ADB President Kanda inaugurated power substations and launched AI literacy modules during his visit to Nepal.
