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ADB Loan For Kathmandu Valley Wastewater Management
By KTM Metro Reporter
July 4, 2013: The Asian Development Bank (ADB) has agreed to provide Nepal with a concession loan of US dollar 80 million (Rs 7.57 billion) for the wastewater management in the Kathmandu Valley.
Joint Secretary to the Ministry of Finance Madhu Kumar Marasini, and Country Director of ADB Nepal Resident Mission Kenichi Yokoyama signed off the agreement. According to Finance Ministry, the loan will be invested in improving the efficiency and effectiveness of the wastewater infrastructures.
The loan will be used for three components such as Rehabilitation and expansion of sewerage network, modernization and expansion of wastewater treatment plants, and capacity building and support for operational and financial improvements.
Kathmandu Upatyaka Khanepani Limited (KUKL) will get a certain amount of the loan to treat the wastewater for improving the water quality in urban rivers, tributaries and ecosystems.
The Ministry of Urban Development is the executing agency while KUKL and Kathmandu Valley Water Supply Management Board are implementing agencies of the loan.
The loan carries 3% interest. The interest is too high. Nepal will end up paying off the loan twice the amount it takes now in 30 years.
