The Asian Development Bank's Japan Fund for Poverty Reduction has pledged a grant of US$ 1 million to Nepal. The sum will be used to help improve the livelihood of poor farmers and disadvantaged groups of the eastern region of the country.
A press release issued on Thursday said the government will also contribute an additional amount equivalent to US$ 314,000 to implement the project, which will be executed by Ministry of Agriculture and Cooperatives.
“The project aims to cover Dhankuta, Morang, Saptari, and Sunsari districts and help around 6,000 people to engage in micro-enterprises, such as off-season farming and high-value crop production, production of packaging materials, and semi-processing of fruits and vegetables,” the release read.
In the first year of implementation, a US$ 350,000 'livelihood support fund' will be set up to finance household, food, health and education and generate economic opportunities for 'the poorest'.
Likewise, in the second year, a US$ 200,000 'income generation fund' will be created to support the graduates of the project's skills training program.
"During the third year, groups that have successfully set up micro-enterprises can access the commercial agriculture fund under an ADB-backed Commercial Agriculture Development Project" the release stated.
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