ADB Provides Nepal $250 Million Loan For COVID-19 Response

ADB Provides Nepal $250 Million Loan For COVID-19 Response

June 2, 2020, 8:39 a.m.

Asian Development Bank agrees to provide $250 Million (Rs.30 Billion) loan to Nepal for COVID-19 responses. Nepal and the Asian Development Bank on Monday signed on a loan agreement of $250 million (equivalent to Rs 30 billion) for the COVID-19 Active Response and Expenditure Support (CARES) Program to respond to the impacts caused by COVID-19.

Sishir Kumar Dhungana, Secretary of Ministry of Finance and ADB Country Director for Nepal Mukhtor Khamudkhanov signed on the agreement at the MoF in the presence of Finance Minister Dr Yuba Raj Khatiwada.

According to Ministry of Finance, it will support Nepal to strengthen its public health system by scaling up its testing laboratories, establishing quarantine facilities in all provinces, enabling of quality health service for prevention, control and cure of communicable disease, developing of health infrastructures with well-equipped hospitals, supplying of medicine and equipment, and providing service of qualified doctors and health workers.

Khamudkhanov said that ADB remained fully committed to supporting Nepal in this challenging time and would work closely with the government in implementing the program to support the country in fighting the pandemic.

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