ADB approves USD 150 million loan to support power supply in Nepal
Kathmandu: The Asian Development Bank (ADB) has approved a USD 150 million loan to Nepal to improve the reliability and efficiency of electricity supplyto end the energy crisis within the next two years in the country.
ADB will also manage a USD 2 million technical assistance grant from the Japan Fund for Poverty Reduction (JFPR) financed by the Japanese government to strengthen the capacity of Nepal’s energy sector to deliver Gender Equality and Social Inclusion (GESI) results.
“Reliable and sustainable electricity distribution and service is an important aspect to Nepal’s growth and development, as well as in the improvement of the quality of life of all its people,” said Jiwan Acharya, a senior energy specialist of ADB.
“We are confident that the project will help improve electricity distribution and efficiency in the country, and significantly support the government’s goal of ending the country’s energy crisis within the next two years and achieving Sustainable Development Goal 7 (Sustainable Energy for All),” he said.