Loan agreement

The executive director of Town Development Fund Mr. Maniram Singh Mahat and the newly elected mayor of Siddharthanagar Municipality, Mr. Hari Prasad Adhikari signed an additional loan for “improvement and development of storm water drainage” of the Municipality under Integrated Urban Development Program on 4th October 2017 at Town Development Fund Office, Kathmandu. This additional loan is about NRS 22,083,000. Total loan after this agreement will be about NRS 141,599,000 for this particular sub project, which is only 15% of total project cost. The rest 5% is matched by the Municipality contribution, 55% by ADB grant and 25% from GoN grant.