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.