Manila, Nov. 1 (UNI) The Asian Development Bank (ADB) said on Friday that it approved a loan of 85 million U.S. dollars to fund the modernization of irrigation networks and increase agricultural production in Nepal.
The ADB said the Irrigation Modernization Enhancement Project will develop a more efficient and climate-resilient agriculture and irrigation system for about 56,000 farm households across five provinces in Nepal.
Nepal's agriculture sector contributes 26 percent to the gross domestic product. However, growth has stagnated at 2.7 percent annually due to unreliable irrigation, while climate-related hazards such as floods, droughts, and heat waves have intensified food insecurity and reduced resilience.