Out-Law News | 15 Nov 2019 | 4:32 pm |
The Asian Development Bank (ADB) has offered a $195 million loan to Nepal for road projects which will link cities and improve transport links to India and Bangladesh.
The roads will link Pokhara to Kathmandu as well as to regional corridors linking to India and Bangladesh. According to Global Data the project will install landslide monitoring and management systems to strengthen disaster resilience.
The World Bank has also just announced a major infrastructure investment in Nepal, pledging $453m in debt financing to the Nepal Water and Energy Development Company to develop a 216 megawatt hydroelectric plant on the Trishuli River according to Xinhua net.
The investment was made by International Finance Corporation, part of the World Bank Group, along with eight other financing organisations including the ADB and the Asian Infrastructure Investment Bank.
According to a World Bank report in 2019 the Nepalese government has been operating an economic development plan since January 2017 aimed at achieving socioeconomic transformation and reducing poverty through high economic growth, productive employment and fair distribution.
A World Bank Group report said that economic growth in Nepal grew to 7.3% a year between 2017 and 2019, compared to 3.3% in the previous three years.