KATHMANDU: The Asian Development Bank (ADB) has agreed to provide an assistance of 56.8 million US Dollars (equivalent to Rs 4.8 billion) to the government of Nepal for the implementation of Integrated Urban Development Project (IUDP).
The financing agreement to this effect was signed between the government and ADB at the Ministry of Finance on Tuesday.
The ADB is going to provide 44.8 million US Dollars in loan and 12 million US Dollars in grant for the development of physical infrastructures in Dharan, Janakpur, Nepalgunj and Siddharthanagar Municipalities. In accordance with the priorities of each municipality, integrated urban environmental improvements, including drainage systems, solid waste management facilities, and urban roads, will be build in these municipalities.
Country Director of the ADB to Nepal, Kenichi Yokoyama stressed on making the projects in an effective, transparent and inclusive manner. The project is expected to complete by June 2017.