KATHMANDU, Dec 10: A loan agreement has been signed between Asian Development Bank and Nepal Government for executing four different projects today.
The government has signed the loan agreement with ADB amount of USD 358 million. This amount will be used in enhancing the condition of the Pokhara-Muglin highway, sanitation of the Bagmati river, increasing the income of farmers and food and agriculture security.
ADB concerned over slow pace of development projects
On behalf of the Nepal government, Finance secretary Rajan Khanal and the national director of ADB Country Director for Nepal Mukhtor Khamudkhanov signed the agreement at a program today.
Speaking in the program the ADB country director informed that USD 195 million will be used to enhance Pokhara-Muglin Highway, USD 63 million to Bagmati cleaning up campaign and USD 5 million each to increase the income of farmers and food and agriculture security.
Addressing the program the secretary Khanal said that the government will contribute USD 59 million in the project of Pokhara- Muglin road.
ADB has been providing aid and help in sectors of infrastructure, agriculture and rural development in Nepal.
