KATHMANDU, DECEMBER 14
The Asian Development Bank (ADB) has approved a $166 million financing package to enhance the local economy in Nepal by constructing climate and disaster-resilient cities that promote sustainable tourism and provide residents with a better quality of life.
Of this amount, $6 million will be granted from the Asian Development Fund.
The cities covered by this initiative include Pokhara Metropolitan City, Janakpur Sub-Metropolitan City, Devdaha, Lumbini Sanskritik, Sainamaina, Siddharthanagar, and Tilottama municipalities.
According to the ADB, the Urban Resilience and Livability Improvement Project aims to contribute to the economic growth, resilience, and livability of the selected cities.
Under this comprehensive package, ADB will enhance the municipalities' resilience to climate and disaster risks through infrastructure development, involving the construction of 150 kilometers of drainage, rebuilding 100 km of roads, and laying 45 km of footpaths, as stated in a Thursday announcement from the ADB Headquarters.
"This project aligns with the government's current National Urban Development Strategy to improve planning and investments in urban corridors and drive sustainable economic growth. It also continues ADB's long-term engagement with Nepal to strengthen municipal governance and improve basic service delivery," said ADB Senior Urban Development Specialist Laxmi Sharma.
"ADB's support will assist the concerned municipalities in designing climate-resilient urban infrastructure, developing tourism potential, and strengthening institutional capacity to achieve their full economic potential and sustainable growth."
The project is anticipated to boost local economic development through tourism and improve historical, cultural, and natural heritage sites.
