Grant under green climate financing

FRANKFURT: Nepal can obtain grant under green climate financing facility of the Asian Development Bank even though it has suspended grant operations in Nepal citing its enhanced capacity to repay debt since a few years back. As ADB is going to increase financing under aforesaid scheme to $6 billion by 2020 from $3 billion, least developed member states borrowing from ADB would be able to obtain grant for mitigation and adaptation of climate change impacts. ADB has a target to expand loan and grants to $4 billion and $2 billion for mitigation and adaptation, respectively, by 2020. ADB's announcement to expand green climate financing has been taken as an initiative to support the new global development agenda of sustainable development.