Kathmandu, 7 November: The government and the Asian Development Bank (ADB) have reached an agreement for the investments in the nuts and fruits in the hilly area project. The government bears about $14.5 million (approximately Rs 1.88 billion) for the project while a $60 million (around Rs 7.79 billion) concessional loan from the Ordinary Capital Resources. Similarly, the financing includes a $10 million (approximately Rs 1.30 billion) grant from the Asian Development Fund, and the ADB will administer a $9 million (around Rs 1.17 billion) grant from the Global Agriculture and Food Security Programme.
The agreement was signed between the Finance Secretary Krishna Hari Pushkar, and the ADB Country Director for Nepal, Arnaud Cauchois amid a function here. The project will benefit over 30,000 households in Province 1 and Bagmati, Gandaki, Karnali and Sudurpaschim provinces, mainly through the development of around 10,000 hectares of climate-resilient fruit and nut orchard. Nepal faces increasing demand for fruits and nuts due to organisation, income growth and improved knowledge of nutrition which is not met by domestic production.
People’s News Monitoring Service
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