ADB to provide Rs 16.92 bn in loan assistance

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ADB to provide Rs 16.92 bn in loan assistance

November 27: The Asian Development Bank (ADB) has agreed to provide USD 15 million (equivalent to Rs 16.92 billion) loan as development assistance for urban water supply and sanitation project and for SASEC Power System Expansion Project, according to Rastriya Samachar Samiti (RSS).

According to a press statement issued by the Ministry of Finance on Monday, November 26, the loan available under the Urban Water Supply and Sanitation Project will support expansion of access to community-managed water supply and sanitation in 20 municipalities by improving water supply and sanitation infrastructure and strengthening capacity of the relevant institutions and communities.

The additional loan financing for SASEC Power System Expansion Project supports to increase power transmission capacity, improve distribution network, increase mini grid-based renewable energy systems in off-grid areas, develop capacity of Nepal Electricity Authority and Alternative Energy Promotion Centre and develop a utility-scale solar photovoltaic project, the national news agency RSS further stated.

Secretary at the Ministry of Finance Dr Rajan Khanal and ADB’s Country Director for Nepal Mukhtor Khamudkhanov signed the agreement on behalf of their respective organisations

 

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