KATHMANDU: The Asian Development Bank (ADB) has announced plans to provide around $2.4 billion in financial support to Nepal over the coming years, focusing on economic transformation, job creation and investment promotion.
ADB President Masato Kanda made the announcement during his meeting with Prime Minister Balendra Shah in Kathmandu.
During the meeting, Kanda congratulated Prime Minister Shah on his strong mandate and expressed ADB’s commitment to further supporting Nepal’s development plans.
ADB and Nepal have maintained a six-decade partnership, with the development bank contributing to improvements in sectors including education, energy, infrastructure and employment opportunities.
The ADB said its future support would focus on accelerating Nepal’s economic growth and achieving sustainable development through closer cooperation with the government.
The assistance package will also support reforms aimed at increasing investment and creating employment opportunities in the coming years.
Prime Minister Shah welcomed ADB’s continued support and said the government would utilise the assistance to advance Nepal’s development and prosperity.
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