Nepal and ADB sign $165 million in financing agreements

The agreements, signed during ADB President Masato Kanda’s first official visit to Nepal, will finance urban water infrastructure and support customs modernisation.

The Ministry of Finance and the Asian Development Bank (ADB) on Monday signed two project agreements worth $165 million (Rs 25.175 billion) on the first day of ADB President Masato Kanda’s official visit to Nepal. The visit is Kanda’s first to the country since he assumed office as ADB president last year.