The Asian Development Bank (ADB) has agreed to provide US$ 100 million (NRs. 10 billion) to Nepal government for Rural Connectivity Improvement Project.
According to a press release issued by the ADB Nepal, the Rural Connectivity Improvement Project will also serve the agriculture sector and bring access to 7.5 million people in 16 districts.
Why this Matters:
- The Rural Connectivity Improvement Project will upgrade 388 kilometers of rural roads to all-weather standards.
- The project aims to increase transport efficiency in the project area.
- The project will aid in improving the rural road condition, agriculture production areas and enhance the capacity of rural infrastructure agency and road users in project areas.
- Shankhar Prasad Adhikari, secretary, Ministry of Finance and Mukhtor Khamudhhanov, Country Director, Nepal Resident Mission, ADB signed the loan agreement on behalf of the Government of Nepal and the ADB respectively. An agreement to this effect was signed and exchanged at the Ministry of Finance, Kathmandu.
What’s next:
- ADB has also agreed to provide US$ 1 million (NRs. 100 million) to restructure the Department of Local Infrastructure Development and Agricultural Roads into a state-of-the-art rural road agency.
- The project is expected to be completed by 31 January 2023.
