The Asian Development Bank's grant budget for Nepal grew by $280 million this fiscal year,

reported. This would bring its total concessional loan and grant package for Nepal to $538 million. "This scaling up of ADB's assistance to Nepal testifies to ADB's strong commitment to Nepal's development and poverty reduction efforts," ADB vice president of operations Zhao Xiaoyu said at the close of his four-day visit to the South Asian nation.

About the author

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    Eliza Villarino

    Eliza Villarino is an associate editor for Devex and leads the company's news team in Manila. She played a critical role in conceptualizing the Development Newswire. Prior to joining Devex in 2004, she has already published articles and news briefs for Internet media organizations and for the Institute for Ethics and Economic Policy at Fordham University in New York. She earned her bachelor's in political science and master's in public affairs from the University of the Philippines. Eliza is a member of Mensa Philippines.