KATHMANDU: Prime Minister Balendra Shah met with Asian Development Bank (ADB) President Masato Kanda today at the Office of the Prime Minister and Council of Ministers to discuss strategic development cooperation and economic growth.

Arriving in Kathmandu for an official visit, Kanda reaffirmed ADB’s long-term commitment to Nepal’s infrastructure and job creation, noting that the bank currently oversees active projects worth USD 3.9 billion in the country.

The meeting follows bilateral talks on Monday between Kanda and Finance Minister Swarnim Wagle at Singha Durbar, where both leaders celebrated their six-decade partnership.

Coinciding with the visit, the government and the ADB signed a Rs 25 billion (USD 165 million) concessional loan agreement on Monday, executed by Finance Secretary Ghanashyam Upadhyay and ADB Country Director Arnaud Cauchois.

The funding allocates USD 115 million to the Integrated Water Supply and Sewerage Management Project across 13 districts, and USD 50 million to the SASEC Trade Facilitation and Logistics Enhancement Program to modernize customs and boost supply chain capacity.