Nepal and ADB
In the Spotlight
Nepal Earthquake: ADB to Provide $3 Million for Immediate Relief and up to $200 Million For Rehabilitation
ADB offers help to Nepal in the wake of the powerful 7.8 magnitude earthquake that struck the country on 25 April, as President Nakao offers his deepest condolences to those affected. Read the statement.
For more than 45 years, ADB has worked alongside Nepal to promote economic development and improve the lives of its people. That effort entered a new stage in November 1989 when ADB opened its Nepal Resident Mission in Kathmandu.
Binita Shah Khadka from ADB's Nepal Resident Mission makes the long trek west to Rara Lake in remote Mugu district where a new road is expected to bring development to some of the country's poorest communities.
ADB supports Nepal's objectives of accelerating inclusive economic growth and development. Over the years, it has provided assistance in such sectors as agriculture, transport and ICT, energy, water and sanitation, urban development, education, finance, and governance.
A $20 million ADB project is supporting agribusinesses in 10 mountain districts in Nepal, seeking to create 7,500 new jobs by 2017 in one of South Asia's poorest areas.
Despite recent conflict and complex political transition, Nepal has made economic and social progress. Literacy rates are up, while poverty rates are sharply down. Gender equality and social inclusion are gaining momentum. Road access to isolated rural communities has improved, with trade and transport networks expanding.
While Nepal will likely meet a majority of the Millennium Development Goals by 2015, accelerating growth and reducing disparities remain challenging. Investment in infrastructure, particularly in the energy sector, is critical to improving quality of life and stimulating private investment.
ADB's country partnership strategy for 2013-2017 supports the government's development objective of accelerated and inclusive economic growth. It seeks to address the infrastructure bottlenecks in the areas of energy, air and road transport, water supply and sanitation, and irrigation, creating an enabling environment for increased business and employment opportunities.