Donors Agree to Finance Nepal Urban Development Initiatives

Three-wheeled transportation in Kathmandu called tuk-tuk. The Asian Development Bank will provide a USD10 million loan for sustainable urban transportation project in Nepal's capiral city. Photo by: Ingmar Zahorsky / CC BY-NC-ND Ingmar ZahorskyCC BY-NC-ND

Nepal has secured multi-donor financing for urban development and sustainable transportation projects that are expected to benefit its urban centers.

The Asian Development Bank has approved a USD60 million loan for an urban environment development project in Nepal’s secondary towns and a USD10 million loan for sustainable urban transportation project in the country’s capital city, Kathmandu, Nepal News reports. ADB will also provide a USD10 grant for the sustainable transport project.

The Organization of Petroleum Exporting Countries’ Fund for International Development, meanwhile, will provide a USD17 million loan for the urban development project, which aims to improve roads, water facilities and other facilities in various municipalities in Nepal.

The Global Environment Fund will extend a USD2.52 million grant for the sustainable transportation initiative.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.