ADB pledges Rs 1,799m grant to Nepal
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KATHMANDU, JUN 27 - The Asian Development Bank (ADB) has agreed to provide a grant assistance of US$ 25.1 million (around Rs 1,799.67 million) to Nepal government for the implementation of High Mountain Agri-business and Livelihood Improvement (HIMALI) Project as well as Capital Market and Infrastructure Capacity Support Project.
At a function held at the Finance Ministry on Monday, agreements to these effects were signed between Secretary of Finance Ministry Krishna Hari Baskota and ADB Country Director Barry J. Hitchcock on behalf of the Nepal government and ADB respectively.
The ADB will provide Rs 1,441.17 million to the HIMALI project which consists of the three components—Mountain agri-business development, value chain capacity development and project management activities. Sankhuwasabha, Solukhumbu, Dolakha, Rasuwa, Manang, Mustang, Humla, Dolpa, Jumla and Mugu district are the project areas.
Under another agreement, the ADB will provide around Rs 358.5 million for the Capital Market and Infrastructure Capacity Support Project. The main aim of the project is to facilitate greater private sector participation
Posted on: 2011-06-27 09:23
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