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ADB Provides Nepal With Loan Of US Dollar 75 Millions
By KTM Metro Reporter
October 21, 2013: the Asian Development Bank (ADB) agreed to provide Nepal with the loan assistance of 75 million US dollars (equivalent to Rs 7.322 billion) for the implementation of SASEC Road Connectivity Project. On behalf of Nepal Finance Secretary Shanta Raj Subedi and on behalf of the ADB, Country Director Nepal Resident Mission Kenichi Yokoyama signed off the agreement on the loan assistance at the Ministry of Finance yesterday, according to the news posted on the ‘gorkhapatraonline.com’.
The main objective of the project is to improve road transport system in the eastern Nepal. The Department of Roads under the Ministry of Physical Infrastructure and Transport is the project-implementing agency.
The project will improve the country's road network of about 187 km, providing alternate crossing over Koshi River for East-West Highway at Sunsari district, three missing linkages for the Mid-Hill Highway and a feeder road connecting the East West Highway at Birtamod and a new bridge across Mechi River, which will connect India and Bangladesh with Nepal.
The project contributes to development and expansion of the Strategic Road Network and expands the road link with the remote hilly areas increasing the economy activities in those areas.
The project comprises about 73 km bypass road along the East West Highway upgraded to the two-lane National Highway standard and two-lane feeder road standard, which will provide an alternate route to the East West Highway in case of the closure of the main Koshi Barrage, about 114 km of Mid Hill Highway upgraded to intermediate lane and enhanced capacity of Department of Roads in delivering Gender Equality and Social inclusion (GESI) results.
The Project completes by December 3l, 2018.
