Nepal Govt & ADB signs loan agreement of Rs. 19.58 billion

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Asian Development Bank ADB Nepal loan

The Government of Nepal and the Asian Development Bank (ADB) have signed a concessional loan agreement worth Rs 19.58 billion for the purchase of vaccines against Covid-19.

The agreement was signed by Finance Secretary Madhu Kumar Marasini on behalf of the Government of Nepal and Country Director of the Asian Development Bank Arnaud Cauchois at a ceremony held at the Ministry of Finance on Wednesday. 

This concessional loan will help the Government of Nepal’s National Immunization Scheme by purchasing 15.9 million doses of covid vaccine. 6.8 million people will benefit from this.

Speaking on the occasion, Finance Secretary Marasini said that the assistance of the Asian Development Bank would be important to ensure the availability of safe and effective vaccines to Nepal.

Stating that the vaccination program is a high priority of the government, he said that the loan assistance of the Asian Development Bank would play an important role in this.

Arnaud Cauchois, ADB’s Country Director, expressed confidence that the agreement would help break the cycle of COVID-19 and move forward towards economic and social recovery by protecting civilian lives.

He assured that the Bank would continue its support to the Government of Nepal to manage the impact of the Covid 19 infection on public health and the national economy.

Apart from this, the government is confident that the technical assistance mobilized by the Asian Development Bank will help in making vaccine distribution effective and in spreading public awareness against COVID 19 by promoting communication and community participation.

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