July 16, 2023
3 min

$50m loan to improve customs, logistics sector - The Himalayan Times

The Asian Development Bank (ADB) has approved a $50 million loan to support Nepal's policy reforms for trade improvement. The loan will help implement the Customs Reform and Modernisation Plan, introducing digital technologies to streamline customs processes. It will establish an online customs valuation database and reduce export documentation. The ADB programme will also focus on improving logistics infrastructure, promoting efficient movement of goods, and establishing a one-stop logistics information portal. The aim is to boost Nepal's trade and industry sector, increase competitiveness, and address the country's balance of payment concerns.

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