Government to Seek Financial Assistance from ADB to Mitigate the Risks of Floods and Landslides

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Government to Seek Financial Assistance from ADB to Mitigate the Risks of Floods and Landslides

July 31: The government has decided to seek financial assistance of US$ 50 million (Rs 6 billion) from the Asian Development Bank (ADB) to mitigate the risks of floods and landslides.

A meeting of the Council of Ministers has decided to form a talks team headed by joint secretary at the International Financial Assistance Coordination Division for this purpose.

Minister for Communication and Information Technology Dr Yuba Raj Khatiwada confirmed that the government has formed the team to prepare a work plan for seeking assistance from ADB.

Minister Khatiwada said that government will seek both loan and grant assistance from ADB.

Likewise, the government has decided to give 50 percent concession on customs duty to the Food Management and Trade Company Limited and the Salt Trading Limited to import a total of 30,000 metric tons of sugar.

The cabinet meeting also decided to take necessary steps to resume schools and educational institutes that have remained closed due to the coronavirus pandemic and the subsequent lockdown.

 

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