ADB to provide assistance for Nepal's development

The Asian Development Bank (ADB) is to provide maximum possible assistance in order to take forward the development priorities of Nepal, state-run Radio Nepal reported on Sunday.

Talking to reporters here following the completion of three-day official visit to Nepal on Saturday, the ADB's Director General for South Asian Department Kuniyo Senga expressed sincere commitment on behalf of the organization to provide assistance to execute the development priorities worked out by the government of Nepal.

Expressing indispensability of peace and stability for the overall development and prosperity of Nepal, he stated that the ADB is interested to assist the development programs determined with priorities by the budget of the current fiscal year started on July 16.

The ADB Director General lauded the budget of the current fiscal year by terming it as "forward looking" as it has managed to address the root causes of the conflict.

He also declared that the ADB will raise the amount of assistance to be provided for the reconstruction and re- establishment of Nepal.

The ADB is among the major group of multilateral donor agencies rendering financial assistance to Nepal.

Source: Xinhua