Nepal, Japan sign Rs 31.76 billion ODA loan agreement for Koteshwor intersection upgrade
Summary
Nepal and Japan have signed a Rs 31.76 billion ODA loan agreement to upgrade the Koteshwor intersection and reduce traffic congestion in the Kathmandu Valley.
Key Points
- Nepal and Japan entered into an ODA loan agreement worth 34.49 billion Japanese Yen (approx. Rs 31.76 billion) for the Koteshwor Intersection Improvement Project.
- The project aims to ease traffic congestion by introducing grade-separated structures at Tinkune, Koteshwor, and Jadibuti intersections in Kathmandu Valley.
- The agreement was signed by key officials from Nepal and JICA, including Finance Minister Rameshore Prasad Khanal and JICA Nepal Chief Representative Matsuzaki Mizuki.
- The eight-year project will be financed through a concessional loan with a 40-year repayment period, a 10-year grace period, and an interest rate of 0.2%.
