Asian Development Bank to Assist in Two Projects

by Glocal Khabar 275 views0

Kathmandu, November 21, 2018: The Asian Development Bank (ADB) will be providing assistance for two projects, the Disaster Resilience of Schools Project and the South Asia Sub regional Economic Cooperation (SASEC) Highway Improvement. The two projects are expected to improve the competitiveness of Nepal’s industries by enhancing the efficiency of the transport system and strengthening national and regional connectivity. 

ADB’s Board of Directors approved the financial support of $198.86 million for the Disaster Resilience of Schools project on September 10 that aims to improve schools’ resilience to disasters in three provinces of Nepal. This project rehabilitate 174 heavily damaged schools into earthquake resilient with improved facilities such as equipped science laboratories, information and communications technology rooms, libraries, water, sanitation, and hygiene facilities. In 130  targeted schools, there will be the installment of off-grid and on-grid solar power systems.  

For the second project, the Board of Directors of ADB has allocated a total project amount of $264 million on October 3. A concessional loan of $180 million will be sanctioned by ADB to fund the project implementation. It will also provide a technical assistance grant of $750,000 that is attached to this project on the same day to strengthen road safety, gender equality, and social inclusion in the transport sector. The project will work for the improvement the capacity, quality, and targeted road safety improvements on the 1,027 km of the East-West Highway (EWH).

 

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