ADB Approves $305.75 Million Financing to Upgrade Strategic Highways, Strengthen Wildlife Conservation in Nepal
Nepal, Oct. 8 -- The Asian Development Bank (ADB) has approved $305.75 million in financing to modernize critical sections of Nepal's East-West Highway and Prithvi Highway, improving connectivity, regional trade, road safety, and resilience to disasters and a changing climate, while protecting wildlife habitats.The financing package consists of a $285 million ordinary capital resources loan, a $20 million grant from the Asian Development Fund's (ADF) regional cooperation and integration thematic window, and $750,000 in technical assistance from ADB's Technical Assistance Special Fund. The SASEC Highway Improvement and Ecosystem Restoration Project will rehabilitate approximately 70 kilometers of the East-West Highway between Narayanghat and...
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