ADB to increase assistance to Nepal for climate change effects

Kathamndu: The Asian Development Bank (ADB) has pledged increased assistance to Nepal to address the impacts of climate change.

At the 57th annual meeting of ADB in Tbilisi, Georgia, ADB President Masatsugu Asakawa made this commitment during discussions with Nepal’s Finance Secretary Madhukumar Marasini.

Secretary Marasini emphasized Nepal’s vulnerability to climate change despite its minimal contribution to global emissions.

In response, President Asakawa acknowledged Nepal’s challenges and affirmed ADB’s readiness to enhance support to mitigate climate-related risks.

Likewise, Secretary Marasini also invited President Asakawa to visit Nepal, which was positively received.

Moreover, during a separate meeting with ADB Vice President Yingming Yang, officials discussed private sector development, infrastructure projects like the Dudhkoshi hydropower and Melamchi drinking water projects, and timely completion of budgetary assistance programs.