ADB to Provide Medical Supplies and Concessional Loan to Nepal

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 ADB to Provide Medical Supplies and Concessional Loan to Nepal

April 30: The Asian Development Bank is to provide medical supplies worth US$ 300,000 and concessional loan worth US$ 250 million to Nepal, according to the national news agency RSS.    
According to RSS, ADB President Masatsugu Asakawa informed about this decision to Finance Minister Yuba Raj Khatiwada during a telephone conversation on Wednesday (April 29). The two discussed the impact of COVID-19 and the possible support from the bank to Nepal.    
The impact of COVID-19 on the economy, the ongoing ADB support to Nepal and possible support in the future to Nepal's development priorities were also discussed during the telephone conversation, according to the Ministry of Finance.    

Thanking ADB for the support, Finance Minister Khatiwada reportedly said that the country was looking forward to additional support for development of health infrastructure in Nepal in the coming days.

He also pointed out to the need to expand investment in modern and commercial agriculture and local infrastructure and rural fiscal measures so as to create more jobs within the country, RSS reported.

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