Quake relief and rehab: AD bank offers Nepal US$15 million

earthquakenepal2KATHMANDU: The Asian Development Bank (ADB) has agreed to provide USD15 million (Rs. 1570 million approx.) grant assistance from the Japan Fund for Poverty Reduction (JFPR) to Nepal for the Disaster Risk Reduction and Livelihood Restoration for Earthquake Affected Communities Project.Lok Darshan Regmi, Secretary at the Ministry of Finance and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB signed the grant agreement today in the Ministry of Finance on behalf of the Government of Nepal and the Asian Development Bank, respectively.

The objective of the Project is to help restore the disrupted livelihoods and schooling in the poor and severely earthquake-affected communities, and strengthen their resilience against future disasters.

The JFPR is a fund set up by the Government of Japan and managed by ADB.

Japanese ambassador to Nepal Masashi Ogawa and Tsutomu Shimizu, Chief Representative of JICA Nepal Office were also present at the signing ceremony. – From Kathmandu Post

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