{"id":1609,"date":"2019-12-12T08:30:27","date_gmt":"2019-12-12T02:45:27","guid":{"rendered":"https:\/\/www.meromauka.com\/news\/?p=1609"},"modified":"2019-12-12T08:30:30","modified_gmt":"2019-12-12T02:45:30","slug":"govt-adb-ink-358m-loan-agreement-for-four-projects","status":"publish","type":"post","link":"https:\/\/www.meromauka.com\/news\/govt-adb-ink-358m-loan-agreement-for-four-projects\/","title":{"rendered":"Govt, ADB ink $358m loan agreement for four projects"},"content":{"rendered":"\n

The Asian Development Bank (ADB) and the government of Nepal today signed a $358 million loan agreement in total for four new projects.<\/p>\n\n\n\n

The signing included a loan of $195 million to improve the highway section between Pokhara-Mugling, a $63 million loan in additional financing to improve flood management and river health in Nepal\u2019s polluted Bagmati river basin, a $50 million loan to improve the livelihoods and increase incomes of small farmers in Nepal and a $50 million policy-based loan to support the government of Nepal\u2019s reforms in agriculture and food safety.<\/p>\n\n\n\n

The agreement to this effect was signed between Rajan Khanal, secretary at Ministry of Finance and ADB Country Director for Nepal Mukhtor Khamudkhanov.<\/p>\n\n\n\n

\u201cWe thank ADB for its support to key sectors of the economy, including infrastructure, agriculture and rural finance. Similarly, ADB\u2019s support to Nepal\u2019s reform initiatives in important sectors is also highly appreciated,\u201d said Khanal, adding all these are very important projects for Nepal and will support the government\u2019s plan of a more inclusive sustainable development of the country.<\/p>\n\n\n\n

Meanwhile, ADB Country Director Mukhtor said that the bank, over the years, has significantly scaled up its development assistance for Nepal which shows its partnership with government of Nepal continues to grow stronger.<\/p>\n\n\n\n

\"\"\/<\/a><\/figure>\n\n\n\n

Newly appointed Asian Development Bank\u2019s Country Director for Nepal Mukhtor Khamudkhanov. Photo courtesy: ADB
<\/p>\n\n\n\n

\u201cNepal can further tap the opportunities of increased lending space provided by ADB with improved portfolio performance, and we appreciate the efforts taken by the government of Nepal in that direction,\u201d he added.<\/p>\n\n\n\n

Under the Mugling- Pokhara Highway Improvement Project, 81 km of the road will be widened to four lanes from Pokhara to Abukhaireni to meet increasing demand. Improvements will be made to the surfacing, structure, and drainage, with safety features such as crash barriers, and traffic and other warning light systems installed.<\/p>\n\n\n\n

The additional funds for the Bagmati River Basin Improvement Project will finance an additional 5.75 kilometres of riverbank beautification in the heart of Kathmandu city, construct a wastewater treatment plant integrated into the landscape to treat a polluted tributary flowing into the Bagmati River, construct and equip a new regional building for the river basin office, and provide funds to train communities along the river on flood early warning systems.<\/p>\n\n\n\n

The Food Safety and Agriculture Commercialisation Programme, comprised of a two-tranche, standalone policy-based loan, will improve food safety and quality monitoring systems in Nepal, particularly in enhancing the regulatory and institutional capacity for sanitary and phytosanitary monitoring.<\/p>\n\n\n\n

The Rural Enterprise Financing Project will help improve rural enterprises\u2019 and cooperatives\u2019 access to finance, addressing the low appetite of formal financial institutions in financing rural enterprises. This will help to raise small farmers\u2019 incomes and improve livelihood.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Asian Development Bank (ADB) and the government of Nepal today signed a $358 million…<\/p>\n","protected":false},"author":7,"featured_media":1610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,17,19],"tags":[],"class_list":["post-1609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-nepal","category-news"],"yoast_head":"\nGovt, ADB ink $358m loan agreement for four projects | Buy sell anything in Nepal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.meromauka.com\/news\/govt-adb-ink-358m-loan-agreement-for-four-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt, ADB ink $358m loan agreement for four 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