header banner
ECONOMY

ADB to provide 50 million US dollars loan to Nepal

KATHMANDU, June 30: The Asian Development Bank (ADB) has granted Nepal a loan of 50 million US dollars (approximately Rs 6.6 billion). The loan has been sanctioned to support the policy reforms aimed at enhancing Nepal's internal and external trade.
By Republica

KATHMANDU, June 30: The Asian Development Bank (ADB) has granted Nepal a loan of 50 million US dollars (approximately Rs 6.6 billion). The loan has been sanctioned to support the policy reforms aimed at enhancing Nepal's internal and external trade.


Recognizing the pivotal role of trade and industry in Nepal's economy, which currently contributes 14.1 percent to the country's gross domestic product, the government has been actively working towards improving the business environment and promoting exports. A key focus has been placed on strengthening the supply chain for primary commodities to bolster the business sector's contribution to the overall GDP.


Related story

ADB to provide Rs 152 million US dollars


The allocated funds from ADB will be utilized for vital areas such as customs, logistics, transport, and ports. "Enhancing trade and industry development will foster competitiveness and facilitate sustainable economic growth," remarked Thiam Hee Ng, the Director of Regional Cooperation and Operational Coordination in ADB's South Asia Department. Thiam Hee Ng further emphasized that improved trade facilitation can play a crucial role in boosting exports and addressing Nepal's balance of payments.


 

Related Stories
ECONOMY

ADB to provide 180 million US dollar loan to Nepal

ECONOMY

ADB provides USD 150 million concessional loan for...

ECONOMY

ADB approves 150 million dollars loan for urban se...

ECONOMY

ADB provides Rs 7.08 billion in loan

ECONOMY

$120 million loan ADB loan for education sector