ADB reaffirms $2.4 billion for Nepal through 2029
Summary
The Asian Development Bank pledges an additional $2.4 billion in financial aid to Nepal by 2029, aiming to support economic transformation, job creation, and infrastructure development.
Key Points
- The Asian Development Bank will provide an additional $2.4 billion to Nepal through 2029 under a country partnership strategy for 2025-2029.
- ADB President Masato Kanda met Prime Minister Balendra Shah to reaffirm support and discuss economic reforms and development priorities.
- ADB recently signed $165 million in loan agreements to improve water sanitation and modernize trade systems in Nepal.
- ADB's support will focus on employment, private sector development, sustainable infrastructure, digital transformation, and social empowerment.
