Home National Kuwait Fund provides loan assistance of Rs 1.68 billion

Kuwait Fund provides loan assistance of Rs 1.68 billion

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Kuwait Fund provides loan assistance of Rs 1.68 billion
Kuwait Fund provides loan assistance of Rs 1.68 billion

 

Kathmandu, 23 March, 2015 : The Kuwait Fund for Arab Economic Development (KFAED) has provided a loan assistance of around Rs 1.68 billion to Nepal for the implementation of Irrigation System Improvement Project (ISIP).

The agreement was signed by Madhu Kumar Marasini, Joint Secretary of International Economic Cooperation Coordination Division at the Ministry of Finance and Mr. Hamad S. Al-Omar, Deputy Director General of the KFAED at a programme here today.

The main objective of the project is to facilitate irrigation support in the Central and Eastern Development Regions by rehabilitating and extending existing Farmer Managed Irrigation System (FMIS).

It further aims at enhancing agricultural productivity and sustainability by reducing poverty and improving the livelihood of the poor rural population, according to a press released issued by the Finance Ministry.

The project will cover all 35 districts of the Central and Eastern Development Regions for the benefit of the poor farmers by strengthening the community managed irrigation systems.

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