ADB President Kanda pledges $2.4 billion for Nepal's reforms, hails 60-year partnership

Asian Development Bank (ADB) President Masato Kanda concluded a significant visit to Nepal, marking six decades of partnership and signaling a new phase of engagement. Kanda, a former Special Advisor to Japan’s Prime Minister and Minister of Finance, met with Prime Minister Balendra Shah and other officials in Kathmandu. He committed to supporting the government's reform agenda and scaling up ADB's assistance, pledging $2.4 billion in concessional financing through 2029. This support will align with Nepal's national priorities. "We also confirmed that our strategies and the government’s priorities are fully aligned," Kanda stated. The visit saw the signing of two major loan agreements totaling $165 million. Kanda expressed his gratitude for the strong, 60-year collaboration with Nepal, noting the country's remarkable transformation since his last visit as a student in 1990. He emphasized the importance of translating ADB's commitments into tangible results on the ground, echoing the government's focus on delivering measurable outcomes for its citizens. During his trip, Kanda visited the Nepal Electricity Authority to observe the modernized renewable energy network and Vishwa Niketan Secondary School, which has been reconstructed with safer infrastructure and is incorporating AI and digital technology. These site visits underscored ADB's commitment to supporting Nepal's development in areas like energy and education.

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We also confirmed that our strategies and the government’s priorities are fully aligned.