ADB to provide Rs 2.75 billion budgetary support to Nepal
KATHMANDU: The Asian Development Bank has agreed to provide Rs 2.75 billion loan as budgetary support to the government of Nepal.
A press statement issued today by the ADB Headquarters at Manila, Philippines, states that the decision was taken in this regard as budgetary support was necessary to Nepal after the recent 'Gorkha Earthquake’ damaged infrastructures of economic development.
Before this, the ADB had provided Rs 20 billion under emergency support and Rs 300 million grant as Natural Disaster Relief after the quake.
Similarly, the ADB will provide additional Rs 1.50 billion to Nepal from the Japanese Fund for poverty alleviation in near future.