Jul 07, Kathmandu - Prime Minister Balen Shah held a high-level meeting with Asian Development Bank (ADB) President Masato Kanda at the Prime Minister's Office in Singha Durbar. The discussions focused on Nepal’s development priorities and the ongoing support from ADB.

Following the Gen-Z movement, Prime Minister Balen Shah, who recently assumed office, publicly reaffirmed ADB’s continuous commitment to assist Nepal’s development initiatives through official statements.

On the occasion of Kanda’s visit to Nepal, the country has agreed to secure a concessional loan of $16.5 million (equivalent to approximately 2.5 billion Nepali Rupees) from ADB. The loan agreement was signed on Monday in the presence of Finance Minister Dr. Swarnim Wagle and Masato Kanda, covering investments in two projects.

Signatures were exchanged by Secretary of Finance Dr. Ghanashyam Upadhyay and Anu Kushwaha, the Country Director of ADB’s Nepal Resident Mission, formalizing the deal.