OFID extends loan for infrastructure

OPEC Fund for International Development (OFID) has agreed to provide a loan assistance of $17 million to Nepal for the implementation of urban infrastructure improvement project.
Lal Shanker Ghimire, joint secretary, Finance Ministry and Suleiman J Al-Herbis, director general, OFID, signed the loan agreement to this connection in Vienna, Austria today.
The loan assistance will be used to improve and make municipal services affordable in key regional urban centers of Nepal, according to a press release by the Finance Ministry.
Under the project, civil works like drainage and sewerage systems, roads and lanes, solid waste management systems and community development, water supply system, and other infrastructure facilities will be improved. It will also implement land acquisition and resettlement, the release said.
The project is also co-financed by the Asian Development Bank (ADB), and the global environment facility. Nepal had signed the agreement with ADB in Kathmandu on October 26.