Nepal, Oct. 11 -- The Asian Development Bank (ADB) has agreed to provide financial assistance worth US $305.75 million (about Rs 47 billion) for upgrading the East-West Highway, Prithvi Highway and the Karnali Highway.

The approved financial assistance package includes a loan of $285 million from ADB's ordinary capital resources, a grant of $20 million from the thematic fund on regional cooperation and integration of the Asian Development Fund (ADF), and $750,000 on technical assistance from ADB special fund.

Out of the amount, $245 million will be spent on the expansion of the Narayanghat-Hetaunda road section and $30 million on the Mugling-Ambukhaireni road section, while the remaining $10 million will be used for improving the Karna...