Monday, May 6, 2013

ADB to increase annual loan

The Asian Development Bank (ADB) has announced hike in annual loan assistance to Nepal to $300 million from the current $250 million a year.
Finance Minister Shankar Koirala, who led the Nepali delegation to the 46th annual meeting of the ADB Governor’s Board, said ADB officials asked Nepal to increase investment and quality of development projects and pursue inclusive economic growth.
“ADB has also announced to continue its loan support in infrastructure development, education and environment sectors on Nepal’s request,” he said, adding that Nepal has also sought ADB´s increased support in infrastructure development like road and hydropower.
Nepali officials also met Indian officials on the sideline of the meeting, in New Delhi. “We asked Indian finance minister P Chidambaram to remove six per cent countervailing tax being levied on some Nepali exportable goods and early operationalisation of Visakhapatnam ports,” Koirala said after arriving from New Delhi today.
The 46th annual meeting of ADB held on Saturday and Sunday in New Delhi also passed a proposal to resume loan and grant assistance to Myanmar.

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