KATHMANDU, DECEMBER 23
The Nepal government and Asian Development Bank (ADB) signed $150 million concessional loan agreement to finance South Asia Sub regional Cooperation (SASEC) Airport Capacity Enhancement Project, and $40 million concessional loan and $10 million grant for the implementation of Priority River Basins Flood Risk Management Project.
Shreekrishna Nepal, joint secretary at the Ministry of Finance signed the agreement on behalf of the Nepal government whereas Rudi Louis Hendrikus Van Dael, officer- in-charge, Nepal Resident Mission, ADB signed the agreement on behalf of ADB.
As per the agreement, ADB will provide concessional loan worth $150 million for the said Airport Capacity Enhancement Project.
This project will enhance the airport capacity by constructing parallel taxiway extension, hanger apron, next phase work design of Tribhuvan International Airport and construction of second terminal at Gautam Buddha Airport.
Likewise, ADB will provide concessional loan worth $40 million and $10 million grant for the said Priority River Basins Flood Risk Management Project .The project will contribute to improve flood protection infrastructure, enhanced flood forecasting and response system and