ADB provides Rs 9.54 billion loan

Kathmandu / December 7: The Asian Development Bank (ADB) has agreed to provide an additional financing of 90 million US Dollars (approximately Rs 9.54 billion) to the government of Nepal for the implementation of Kathmandu Valley Water Supply Improvement Project.

The agreement to this effect was signed between the government of Nepal and ADB at the Ministry of Finance today, according to a press release issued from the Ministry.

The government has been executing the Project since 2008 with its objective of resolving existing water supply problem in the capital city.

In addition, the loan would be utilised in setting up pipeline connectivity, expanding the scope to Kirtipur and Madhyapur Thimi municipalities and also support to Melamchi Phase-II seeking new water sources to meet the future demand.

Secretary at the Ministry Lok Darshan Regmi and Country Director of ADB Kenichi Yokoyama signed the agreement, reads the press release. RSS