ADB: ADB's performance in Nepal significant

KATHMANDU, Feb. 5 (Chinese media) -- The Asian Development Bank (ADB) on Thursday

said that it has made significant improvements to its portfolio of loans and

grants in Nepal in the year 2008.

According to a press statement issued by the ADB on Thursday, the bank's

contract awards and disbursement to Nepal reached to 145 million U.S. dollars

and 127 million U.S. dollars respectively for 2008.

"Additionally, no projects were at risk at the end of 2008, a remarkable

level compared to 14 percent in 2007 and 17 percent in 2006," the release quoted

ADB country director Barry J. Hitchcock as saying.

The bank also expressed commitment that it would continue its development

support to the country maximizing the opportunities opened by the increased

development space.

In 2008, all of ADB's assistance to Nepal was in the form of grants, with

8.0 million dollars approved for the education sector, 25 million for

information and communication development, and 106.3 million for local

governance and community development.

The portfolio as of Dec. 31, 2008 comprised of 18 loans worth a net 586

million dollars, 10 investment grants worth 332 million dollars, and 33 ongoing

technical assistance projects, totaling 29million dollars, according to the

press statement.

The bank also launched a new publication titled "Voices from the Field: On

the Road to Inclusion". The publication features wide-ranging feedback from

consultations held with Nepalese stakeholders in 2008 as part of a mid-term

review of ADB's current partnership strategy which runs until 2009.