Nepal, ADB sign grant agreement of Rs 21.23 billion for two projects

The government of Nepal and Asian Development Bank (ADB) has signed a concessional loan and grant agreement of 157 million US dollar (approximately Rs 21.23 billion) for the implementation of the Mechanized Irrigation Innovation Project (MIIP) and the Climate Resilient Landscapes and Livelihoods Project (CRLLP).

As per the agreement signed at the Finance Ministry on Wednesday, the grant agreement amounting to 15 million US dollar and Loan Agreement amounting to 110 million US dollar for the implementation of MIIP was signed by Dr Ram Prasad Ghimire, Finance Secretary, and Arnaud Cauchois, Country Director of the Nepal Resident Mission, ADB, on behalf of the government of Nepal and ADB respectively. It was shared in a press statement issued by the Finance Ministry on Wednesday.

The MIIP will introduce advanced irrigation technologies, including a prepaid card system allowing framers to access water based on their field’s need. The project will be enforced in the Rautahat and Sarlahi districts of Madhes Province, benefitting over 121,000 farmers.