Jan 16, 2017

The Asian Development Bank has agreed to provide a grant assistance US Dollar 15 million to the GoN for the implementation of the SASEC Trade Facilitation Program.

The Asian Development Bank (ADB) has agreed to provide a grant assistance amounting to US Dollar 15 million (approximately NRs 1263 million) to the Government of Nepal for the implementation of the SASEC Trade Facilitation Program.

The main objective of the project is to increase intra-regional trade among the SASEC member countries of Bangladesh, Bhutan and Nepal by reducing non-tariff barriers (NTBs), namely institutional, administrative and technical barriers to trade. The program aims at providing efficient, effective, transparent, secure and service-oriented processing of cross-border trade in the sub-region. To achieve this outcome, the program and its associated TA will support activities under three thematic areas: (i) modern and effective customs administration, (ii) streamlined and transparent regulations and procedures, and (iii) improved services and information for traders and investors, including women entrepreneurs.

The Grant Agreement to this effect was signed and exchanged on 25 February 2013 between Mr. Madhu Kumar Marasini, Joint Secretary and Chief of the International Economic Cooperation and Coordination Division, Ministry of Finance and Mr. Kenichi Yokoyama, Country Director, Nepal Resident Mission on behalf of the Government of Nepal and ADB, respectively.