Kathmandu, February 13, 2018: In an event held at the Ministry of Finance on February 12, 2018, Asian Development Bank (ADB) has agreed to financially aid Nepal with $100 million (NRs 10 billion) for Rural Connectivity Improvement Project.
Shankar Prasad Adhikari, secretary at the Ministry of Finance, and Mukhtor Khamudhhanov, country director of Nepal Resident Mission at ADB, signed the memorandum.
Through this project, 388 km of rural roads to all-weather standards will be upgraded which in turn will benefit agriculture sector and bring access to 7.5 million people in 16 districts. Set as a goal of the government’s Agriculture Development Strategy signed in 2015, this project aims to invite commercial agriculture, increase productivity, create new rural jobs and increase prosperity.
The main objective of this project is to bring about transport efficiency on project areas. Improving rural roads between the selected rural communities, agriculture production areas and enhancing capacity of rural infrastructure agency and road users in project areas is the part of the project
ADB has also assented to provide the government with $1 million (NRs 100 million) to renovate Department of Local Infrastructure Development and Agricultural Roads into a state-of-the-art rural road agency. ADB has expected to terminate this project by January 31, 2023.