The Asian Development Bank (ADB) has agreed to provide USD 30 million (about Rs 2.873 billion) to the government for the implementation of Community Managed Irrigated Agriculture Sector Project (CMIASP).
An agreement to this effect was signed and exchanged between the Country Director of ADB Kenichi Yokoyama (L) and Joint Secretary of Ministry of Finance Madhu Kumar Marasini at the Ministry of Finance (MoF) in Singhadurbar on Friday.
The CMIASP will be implemented through about 77 Farmer Managed Irrigation System (FMIS) in 35 districts of the Eastern and Central Development Regions, says the Finance Ministry in a press statement.
The total cost of project is USD 38.3 million among which the bank will provide US$ 30 million as loan, government US$ 7.5 million and the rest US$ 0.8 million will be managed by the user communities.
The objective of the project is to improve the agriculture productivity and sustainability of existing medium-sized farmer-managed irrigation system and thereby enhance the livelihoods of the poor, says the Ministry.