KATHMANDU: The Asian Development Bank (ADB) has agreed to provide an additional fund of USD 90 million (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 and the 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.

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 ADB Country Director Kenichi Yokoyama signed the agreement, reads the press release.