ADB to provide Rs 16.92 bln in assistance

-RSS

The Asian Development Bank (ADB) has agreed to provide 15 million US Dollar (equivalent to Rs 16.92 billion) as development assistance for urban water supply and sanitation project and for SASEC Power System Expansion Project.

According to a press statement by Ministry of Finance on Monday, the loans proceeds available under Urban Water Supply and Sanitation Project will support to expand access to community-managed water supply and sanitation in 20 municipalities through improving water supply and sanitation infrastructure and strengthening capacity of relevant institutions and communities.

The additional loan financing for SASEC Power System Expansion Project supports to increase power transmission capacity, improve distribution network, increase mini grid-based renewable energy systems in off-grid areas, develop capacity of Nepal Electricity Authority and Alternative Energy Promotion Centre and develop a utility-scale solar photovoltaic project.

Secretary at the Ministry of Finance Dr Rajan Khanal and Country Director, Nepal Resident Mission of the ADB Mukhtor Khamudkhanov signed the financing agreements for the projects from their respective sides in Kathmandu on Monday.