ADB released Nepal country strategy for Nepal

ADB allocates 1.4 billion dollar to Nepal

June 19, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 08 No. -1 June. 6- 2014 (Jestha 23, 2071)

Out of allocated resources of $ 1.4 billion by the Asian Foundation for 2013-2017, Nepal has already achieved $328 million in 2013 and $224 million is expected in 2014.

Asian Development Bank has allocated highest amount 39 percent or $546 million in energy sector followed by transport, ANR, education and urban.

Asian Development Bank (ADB) has allocated provide $ 1.4 billion for Nepal in the period of 2013-2017 period. It includes RCI funds and TA resources. It also has resources for $1.3 billion co-financing including commercial.

Asian Development Bank – Nepal Residence Mission organized a luncheon and briefing session to share the findings of the Mid Term Review (MTR) of its strategy. a short briefing on ADB’s Country Partnership Strategy for Nepal 2013-2017.

Kenichi Yokoyama, ADB's Country Director for Nepal, shared the findings of the Mid Term Review (MTR) of its Strategy 2020.

In his briefing country director Kenichi Yokoyama said that the key messages of the mid-term review include starategy remains valid and relevant. However, ADB’s capacity needs strengthen to respond DMC’s needs and demands.

“The review also stresses to maintain vision of an Asia-Pacific free of poverty but poverty needs to be redefined in the regional context as the current measure of $1.25 a day is insufficient to provide basic subsistence for the poor,” said ADB’s country director Yokoyama.

Replying to a query whether the ADB’s Country Partnership Strategy for Nepal 2013-2017 fit with the new Nepal’s Foreign Aid Policy, country director Yokoyama said this is in line with Nepal’s policy and needs. “We are very flexible on project designs and programming.”

 

 

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