Rs 1.26b ADB grant for trade facilitation program

KATHMANDU, Feb. 25: The Asian Development Bank (ADB) has provided a grant assistance of approximately Rs. 1.26 billion (US Dollar 15 million) to Nepal for the implementation of the SASEC Trade Facilitation Program.



Joint-Secretary at the Ministry of Finance, Madhav Kumar Marasini, and Kenichi Yokoyama, Country Director of the Nepal Resident Mission, signed the agreement today.[break]



The main objective of the project is to increase intra-regional trade among the SASEC member countries-- Bangladesh, Bhutan and Nepal by reducing institutional, administrative and technical non-tariff barriers to trade.



The program has assisted Bangladesh, Bhutan and Nepal for the implementation of the reformed provisions of the Revised Kyoto Convention (RKC).



The Department of Customs (DOC) will implement the program. The DOC and the Ministry of Commerce and Supplies are Implementing Agencies.The Government of Nepal expressed its sincere appreciation to the ADB for its continued support in the socio-economic development of Nepal.

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