Nepal, July 7 -- The Asian Development Bank (ADB) has agreed to provide a loan of 165 million USD to the Government of Nepal.

Two separate loan agreements were signed between the Government of Nepal and the ADB at a program organized at the Ministry of Finance on Monday. The loans will be used for the modernization of drinking water, sewage management, and customs administration.

The agreement was signed in the presence of Finance Minister Dr Swarnim Wagle and ADB President Masato Kanda. Finance Secretary Dr Ghanashyam Upadhyay signed the agreement on behalf of the Government of Nepal while ADB Country Director for Nepal, Arnaud Cauchois signed it on behalf of the ADB.

According to the agreement, concessional loan of 115 million USD w...