Govt, ADB ink concessional loan and grant agreements

KATHMANDU, DECEMBER 11: The Government of Nepal and the Asian Development Bank (ADB) have signed concessional loan and grant agreements for the Mechanized Irrigation Innovation Project (MIIP) and the Climate-Resilient Landscapes and Livelihoods Project (CLLRP).

During a program held at the Ministry today, the two parties formalized the deals for a total of USD 157 million (Rs. 21.23 billion) in concessional loans and grants for these projects.

For MIIP implementation, a grant of USD 15 million (Rs. 2 billion) and a concessional loan of USD 110 million (Rs. 14.88 billion) were signed by Finance Secretary Dr. Ram Prasad Ghimire and Arnaud. The project, to be implemented in the Rautahat and Sarlahi districts of Madhesh Province, is expected to benefit over 121,000 farmers. Its primary objectives are to enhance agricultural productivity, ensure year-round irrigation, and strengthen food security.

Similarly, a grant of USD 22 million (Rs. 2.97 billion) and a concessional loan of USD 10 million (Rs. 1.35 billion) were approved for CLLRP, with the agreement signed by Joint Secretary Dhaniram Sharma. The project aims to address water insecurity, promote nature-based livelihoods, and empower local communities through sustainable water resource management.

Both initiatives focus on strengthening communities to adapt to climate challenges. CLLRP emphasizes sustainable water management, agroforestry, silviculture, and forest management to build resilience.

The government is confident that these projects will play a crucial role in improving water security and mitigating climate-induced risks in the region.

 

 

 

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