ADB Approves $13 Million Financing for Resilient Urban Development in Bhutan
Bhutan, June 29 -- The Asian Development Bank (ADB) has approved a $13 million financing package to help the Government of Bhutan strengthen resilient urban infrastructure and expand affordable rental housing for low-income and vulnerable households, particularly in Thimphu and Phuentsholing.The Inclusive and Resilient Urban Development Project comprises a $5 million concessional loan, a $5 million grant from the Asian Development Fund (ADF), and a $3 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific (JFPR) financed by the Government of Japan through ADB.Bhutan's rapid urbanization has outpaced new infrastructure construction and exposed economically disadvantaged households to flooding, landslides, and sub...
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