Nepal, ADB sign Rs 21.23 billion support agreement for 2 projects

Kathmandu. The Government of Nepal and the Asian Development Bank (ADB) have signed an agreement on 2 projects.
A subsidized loan and grant agreement worth Rs 21.23 billion (one hundred and fifty-seven million US dollars) was signed on Wednesday between Nepal and ADB for the implementation of the Mechanized Irrigation Innovation Project (MIIP) and the Climate Upliftment and Livelihood Project (CRLLP).

Finance Secretary Dr. Ram Prasad Ghimire and ADB Country Director Arno Koshwa signed the agreement at a program organized at the Ministry of Finance.

According to the agreement, ADB will provide Rs 14.88 billion (US$110 million) loan and Rs.2 billion (US$15 million) grant for the project.

1 billion 35 million (10 million US dollars) loan and 2 billion 97 million (22 million US dollars) grant agreement for climate upliftment and livelihood project.
Advanced irrigation technology will be applied under the mechanical irrigation project to be implemented in Rautahat and Sarlahi districts of Madhesh province. In which farmers will be provided with the facility to use water as needed through prepaid cards. It is believed that more than one lakh 21 thousand farmers will benefit from this project. The main objective of the project is to increase agricultural productivity, ensure year-round irrigation and promote food security.
The Climate Uplifting and Livelihood Project will be conducted with the objective of making the rural communities of Karnali and Sudurpaschim provinces more resistant to the effects of climate change. It is expected to contribute to solving drinking water problems, promoting nature-based livelihoods and empowering local communities through sustainable water management, agro-forestry and forestry management.