KATHMANDU: The Asian Development Bank (ADB) has approved a $150 million (equivalent to Rs 17.7 billion) concessional loan to improve the capacity of Tribhuvan International Airport (TIA) and Gautam Buddha Airport (GBA) in Nepal.
Tourism is a major source of economic activity in Nepal. In 2019, tourism generated an estimated $2.05 billion, which accounted for 6.7% of gross domestic product. TIA in Kathmandu is the country’s sole international airport and a major hub for domestic air transport. GBA in Lumbini will serve as an alternate international air transport facility for Nepal. Lumbini is the birthplace of the Buddha and is a pilgrimage and major tourist destination.
“ADB’s support will improve the TIA’s safety, capacity, and operational efficiency. In addition, the new GBA international terminal will play a key role in boosting regional tourism in and around Lumbini,” said ADB Senior Transport Specialist for South Asia Kai Wei Yeo. “The