ADB AID FOR AIR TRANSPORT, TOURISM PROJECTS
Kathmandu, May 25: The Asian Development Bank (ADB) has agreed to provide loan and grant assistance to the Government of Nepal for Air Transport Capacity Enhancement Project and South Asia Tourism Infrastructure Development Project.
Two separate financing agreements and three projects agreements to this effect were signed between the Government of Nepal and the ADB at the Ministry of Finance today.
In a press release issued today, the Finance Ministry said the assistance will be used for enhancing the capacity and security of Tribhuvan International Airport and Lukla, Rara as well as Simikot airports under Air Transport Capacity Enhancement Project.
Similarly, under South Asia Tourism Infrastructure Development Project, two separate project agreements with Civil Aviation Authority of Nepal (CAAN) and Lumbini Development Trust (LDT) were signed, it said.
The loan and grant assistance will be utilised for the upgrading of Gautam Buddha Airport into an international standard airport and improve capacity of CAAN to manage the airport and development of Lumbini heritage area, the statement stated.
The Ministry of Tourism and Civil Aviation will be responsible for ensuring the effective implementation of these projects and CAAN and LDT will be responsible for the execution of the projects, the ministry added. RSS