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ADB Pledges $2.4 Billion Support as President Masato Kanda Meets PM Balen Shah

ADB President Masato Kanda has reaffirmed the bank’s commitment to Nepal, announcing an additional $2.4 billion in support through 2029 following a meeting with Prime Minister Balen Shah.

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ADB Pledges $2.4 Billion Support as President Masato Kanda Meets PM Balen Shah

Asian Development Bank (ADB) President Masato Kanda paid a courtesy call on Nepal's Prime Minister Balen Shah, reaffirming the bank’s long-term commitment to the country’s economic transformation and development agenda. Following the meeting, Kanda shared on social media platform X that it was an honor to meet the Prime Minister and congratulated him on receiving a strong public mandate. During the discussion, Kanda expressed ADB’s firm support for the government's ambitious reform agenda aimed at accelerating economic growth, attracting investment, and creating employment opportunities. As Nepal’s largest development partner, ADB announced that it will provide an additional USD 2.4 billion (over Rs 320 billion) in support by 2029 to help translate the Prime Minister’s vision into tangible results. Kanda noted that Nepal and ADB have worked together for nearly six decades to strengthen resilience and promote development through investments in safe schools, clean energy, resilient infrastructure, and improved economic opportunities. He also expressed his eagerness to continue working closely with the government to deliver sustainable and inclusive progress for the people of Nepal.

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