ADB to provide 11 mlm US $ assistance to Nepal for WRM

KATHMANDU: The Asian Development Bank ( ADB) has agreed to provide a grant assistance of US Dollar 11 million (around Rs. 946 million) to the Government of Nepal for the implementation of the Water Resource Project Preparatory facility.

An agreement to this effect was signed and exchanged at the Ministry of Finance, Kathmandu on Friday.

The main objective of the project is to improve the readiness of water resources management projects for the implementation and it is expected that the there will be more water efficient and climate and disaster resilient food supply after the completion of this project, said the Ministry.

The expected outputs of the project include detailed feasibility of high priority water resources projects undertaken, environmental, social and technical capacity of Department of Irrigation and Department of Water Induced Disaster Prevention ( DWIDP) improved , irrigation Master Plan updated and efficient facility management.

Ministry of Irrigation will be the executing agency of this project whereas Department of Irrigation will be main implementing agency. The estimated cost of the project US Dollar 13.8 million and the Nepal Government shall also have the investment of US Dollar 2.8 million in the project.

The agreement was signed by Lal Shankar Ghimire, Joint Secretary and Chief of the Foreign Aid Corporation Division, Ministry of Finance and Mr Kenichi Yokyama, Country Director, Nepal Resident Mission on behalf of their respective sides.

The Government of Nepal has expressed its sincere appreciation to the ADB for this grant assistance and for prolonged support in the socio-economic as well as infrastructural development of Nepal. RSS