Bhairahawa Airport: ADB assures $33m in new financing

KATHMANDU, MAY 20 -

Asian Development Bank on Monday assured an additional financing worth $33 million for the upgradation of the Gautam Buddha airport in Bhairahawa into a regional international airport.  

Kenichi Yokoyama, country director at ADB and Madhu Marasini, chief of the international economic cooperation coordination division at the Finance Ministry, signed the “loan and garnet agreement” on Monday.

“The government of Nepal had requested for an additional financing after the earlier estimated cost for the project was not sufficient,” said Marasini. “The project, which is expected to be completed by June 2017, will be a milestone to develop Bhairahawa as a Buddhist pilgrim’s hub,” said Marasini.

Caan said it has reviewed technical documents submitted by the bidders, and have submitted them to Tourism Ministry. After the necessary evaluation of the documents by the ADB, Caan said it will proceed with the financial documents of the bidders.

Source: The Kathmandu Post