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ADB to provide Rs 10b for rural connectivity project

The Asian Development Bank (ADB) has agreed to provide US$ 100 million (approximately Rs. 10 billion) for Rural Connectivity Improvement Project.
An agreement to this effect was signed and exchanged at the Ministry of Finance, Kathmandu, on Monday.
Shankar Prasad Adhikari, Secretary at the Ministry of Finance and Mukhtor Khamudkhanov, Country Director, Nepal Resident Mission, the Asian Development Bank, signed the loan agreement on behalf of the Government of Nepal and ADB respectively.
The Rural Connectivity Improvement Project will upgrade 388 kilometres of the rural roads to all-weather standard, serving the agriculture sector and bringing 7.5 million people in 16 districts to road networks, according to a press statement issued by the Ministry of Finance.
The objective of this project is to increase transport efficiency in the project area, said the ministry.
This project shall improve the rural road conditions between the selected rural communities, agriculture production areas and enhance capacity of rural infrastructure agency and road users in the project areas said the ministry.
Similarly, ADB has also agreed to provide US$ 1 million (approximately Rs. 100 million) to restructure the Department of Local Infrastructure Development and Agricultural Roads into a state-of-the-art rural road agency.

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