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Kathmandu Tuesday January 29, 2002 Magh 16, 2058.
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ADB loan assistance for teacher education
project
RSS
KATHMANDU, Jan 28: The Asian Development Bank (ADB) has
agreed to provide a loan assistance of US$ 15.585 million (approximately Rs 1496.85
million) to His Majesty’s Government for implementing the Teacher Education Project.
A loan agreement to this effect was signed between His
Majesty’s Government of Nepal and Asian Development Bank at the Finance Ministry
today.
The Teacher Education Project aims at improving the quality
of education through increased coverage of teacher training and institutional capacity
building.
The project will carry out activities like strengthening the
institutional capacity of National Center for Educational Development (NCED), Primary
Teachers’ Training Centers and Distant Education Center to train primary school
teachers.
In addition to providing training to 130,000 teachers,
educational administrators and managers, the project will also help develop teacher
education curriculum and teaching-learning materials.
Of the total US $26.9 million cost of the project, ADB will
finance US $ 19.6 million and the remaining balance of US $ 6.3 million will be borne by
His Majesty’s Government of Nepal.
The loan assistance carries an interest rate of one per cent
during the grace period and 1.5 per cent interest per annum thereafter. The loan has to be
repaid within a period of 40 years, including the grace period of eight years.
The loan agreement was signed and exchanged between Finance
Secretary Dr. Bimal Prasad Koirala and Dr. Richard Vokes, Country Director, Nepal Resident
Mission, Asian Development Bank on behalf of His Majesty’s Government of Nepal and
the Asian Development Bank respectively.
His Majesty’s Government has expressed its sincere
thanks to the Asian Development Bank for the assistance and also for the bank’s keen
interest and support for the socio-economic development of Nepal.
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