KATHMANDU: During the official visit of Asian Development Bank (ADB) President Masato Kanda to Nepal, the government signed a concessional loan agreement worth Rs 25 billion (USD 165 million) on Monday.

Signed by Finance Secretary Ghanashyam Upadhyay and ADB Country Director Arnaud Cauchois in the presence of Finance Minister Swarnim Wagle, the agreement allocates USD 115 million to the Integrated Water Supply and Sewerage Management Project, which aims to improve water infrastructure for 850,000 people across 13 districts.

The remaining USD 50 million is dedicated to the SASEC Trade Facilitation and Logistics Enhancement Program to modernize customs through digital systems, lower trade costs, and improve supply chain capacity.

Both leadership sides praised their six-decade partnership and committed to continuous alignment on Nepal’s future development goals.