PM Shah, ADB chief pledge deeper development partnership
Summary
Prime Minister Balendra Shah and ADB President Masato Kanda pledged to deepen Nepal-ADB development partnership, focusing on economic growth, hydropower, tourism, and digital infrastructure.
Key Points
- Asian Development Bank President Masato Kanda met with Nepal's Prime Minister Balendra Shah to strengthen a six-decade development partnership.
- Discussions focused on promoting hydropower, tourism, digitalisation, and tourism road infrastructure as key economic pillars.
- ADB committed $165 million in loans for water sanitation and policy-based trade system modernization projects in Nepal.
- ADB plans to increase support up to $2.4 billion through 2029, prioritizing job creation, private sector development, sustainable infrastructure, and digital transformation.
