Kathmandu, The Government of Nepal and the Asian
Development Bank signed on a loan agreement of a $250 million (equivalent to
NRs. 30 billion) for the COVID-19 Active Response and Expenditure Support
(CARES) Program to respond to the impacts caused by COVID-19 today.
The signatories were Mr. Sishir Kumar Dhungana, Secretary, Ministry of Finance,
who signed for the Government of Nepal; and ADB Country Director for Nepal
Mr. Mukhtor Khamudkhanov, who signed for ADB. Honorable Finance Minister
Dr. Yuba Raj Khatiwada was also present during the event.
“We thank ADB for its support to Government of Nepal’s response to the COVID19,” said Mr. Dhungana. “This program will support the Government’s National
Relief Program that has been announced to address the impact of the Corona
pandemic and will help to strengthen the Nepalese public health system, provide
social protection and create more employment.”
“ADB remains fully committed to supporting Nepal in this challenging time and
will work closely with the government in implementing this program to support
Nepal in fighting the pandemic and reduce impacts on people,” said Mr. Mukhtor
Khamudkhanov, ADB’s Country Director for Nepal.
This is a concessional loan and will be provided as budgetary support. The program will support the Government of Nepal to strengthen its public health
system by scaling up its testing laboratories, establishing quarantine facilities in
all provinces, enabling quality health service for prevention, control, and cure of
communicable disease, developing of health infrastructures with well-equipped
hospitals, supplying of medicine and equipment; and providing service of
qualified doctors and health workers.
The program will also support the Government to mitigate the adverse economic
and social impacts of the pandemic, particularly on the poor and vulnerable.
Source: Ministry of Finance of Nepal
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