June 28, 2011 9:33 AM

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ADB to provide grant of 25.1 million dollars to Nepal

The Asian Development Bank (ADB) is to provide a grant assistance of 25.1 million dollars to Nepal government for the implementation of High Mountain Agri-business and Livelihood Improvement project (HIMALI) and for Capital and infrastructure Capacity Support project. The agreements to these effects were signed between Nepal government, Secretary of Finance Ministry Krishna Hari Baskota and ADB Country Director Barry J. Hitchcock in Kathmandu yesterday. Out of the assistance, the ADB will provide 1,441.17 million nepali rupees to the HIMALI project which consists of the three components-Mountain agri-business development, value chain capacity development and project management activities. The project is for Sankhuwasabha, Solukhumbu, Dolakha, Rasuwa, Manang, Mustang, Humla, Dolpa, Jumla and Mugu districts . Under another agreement, the ADB will provide around 358.5 million nepali rupees for the Capital Market and Infrastructure Capacity Support Project. The main aim of the project is to facilitate greater private sector participation.

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