ADB Bank approves Japan-funded grant to rebuild schools
KATHMANDU, Asian Development Bank (ADB Bank) has approved a new US$ 15 million grant to rebuild schools, provide microloans to help restore livelihoods and to boost awareness of disasters in the 14 districts most severely affected by the destructive recent earthquakes in Nepal.
The grant is provided by the Japan Fund for Poverty Reduction, a fund which was set up by the Japanese government in 2000 to support poverty reduction and social development in ADB projects. They said ADB will manage the grant.
All Destroyed homes, farmland, business, lost livestock and harvests will push at least 700,000 additional Nepalese below the poverty line, many of them in the hard-hit rural central hill and mountain areas where poverty was already high,” said Mayumi Ozaki, Financial Sector Specialist with ADB’s South Asia Department. “We must help families get back on their feet as soon as possible so they can rebuild their lives.”