ADB Vice President promises to increase support to Nepal

Kathmandu / Feb 20: Asian Development Bank (ADB) Vice President Wencai Zhang has expressed ADB’s readiness to support Nepal in its aspirations to become a prosperous middle-income country by 2030.

During a meeting with Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara on Monday, Zhang said that ADB has allocated for Nepal 843.8 million US Dollars for 2017-2019 and additional 356 million US Dollars can be made available during the period for projects contributing to regional cooperation and integration and reduction of disaster risks and fragility, provided that Nepal continues to improve its performance of its ongoing projects, according to a news release issued by the ADB Nepal Office.

Likewise, during the meeting with senior officials, Zhang acknowledged the progress of the Melamchi Water Supply Project and Kathmandu Valley Water Supply Improvement Project and agreed on maximum mutual efforts to complete the project in time.

Similarly, both sides also agreed on expending institutional strengthening of the Kathmandu Upatyaka Khanepani Limited (KUKL).

Zhang also renewed ADB’s commitment to support Nepal to prepare a long-term socio-economic development vision, strategy and economic transformation programmes.

Zhang is on a three-day official visit to Nepal. RSS