ADB to fund agricultural project in Nepal

The Asian Development Bank (ADB) will help commercialize agriculture in Nepal's Eastern Development Region to expand economic opportunities for the rural poor through a grant of 18 million U.S. dollars, an ADB report said on Friday.

The project will bring together key stakeholders -- farmers, traders, and processors -- to work together toward improving the efficiency of production, marketing, and processing of high-value crops, such as vegetables, fruits, tea, and spices, according to the report.

The report said the project will be carried out in 11 districts which have favorable climates for agriculture, an existing entrepreneurial base, successful cases of commercial agriculture, and proximity to domestic and neighboring country markets.

It will help subsistence and semi-commercial farmers adopt high value crops to improve returns, and to become more knowledgeable and capable in participating in commercial activities.

A commercial agriculture fund will also be established to provide a facility for the community to make investments in local market infrastructure, such as collection centers, small markets, storage centers, and farm-to-market road improvements, said the report.

Source: Xinhua