KATHMANDU — The Asian Development Bank has approved a $150 million concessional loan to improve the capacity of Tribhuvan International Airport and Gautam Buddha Airport in Nepal.
This will be the largest funding package the multilateral agency has given to Nepal’s civil aviation sector so far. The Nepal government will chip in $48 million for the improvement project.
Tourism is a major source of economic activity in Nepal. In 2019, tourism generated an estimated $2.05 billion, which accounted for 6.7 percent of gross domestic product.
Tribhuvan International Airport in Kathmandu is the country’s only international airport and a major hub for domestic air transport. The Gautam…
Keep on reading: ADB approves $150 million loan to upgrade two international airports in Nepal