Asian Development Bank (ADB) Tuesday reiterated its continuing support for Nepal despite economic and political difficulties in the Kingdom.

“Looking forward, ADB is doing its best to continue to work with the Government and people of Nepal to help meet the country’s serious development challenges, particularly given the difficult situation the country is facing,” ADB Country Director Dr. Richard Vokes told a news conference.

ADB has proposed a $115 million loan for five projects and $3.8 million in technical assistance for 2003. “ADB sympathizes with Nepal’s current difficulties and, subject to the parameters set by our performance-based allocation policy, we stand ready to assist wherever our support can be effective,” Dr.Vokes said.

“Despite the serious economic and political problems the country is currently is facing, Nepal has the potential to overcome these and achieve recovery over the medium term,” he said.