June 20:  The Asian Infrastructure Investment Bank (AIIB) is to invest Rs. 118 billion in different six projects in Nepal.

During the meeting with Nepali delegation headed by Finance Minister Gyanendra Bahadur Karki, AIIB pledged to invest in different projects of Nepal.

Nepali authorities attended the meeting of the AIIB Board of Governors that was held at Jeju of South Korea from 16^th June to 18^th June.

The bank said that Rs. 10 billion would be invested in the Electricity Distribution Improvement Project of the Kathmandu valley. Electricity Distribution system of Kathmandu valley is not being improved for the last 20 years.

Similarly, the bank would invest Rs. 28 billion in the settlement development and systematic urbanization project of Terai-Madhes, informed Minister Karki. Though the project covers 22 districts in Terai, the bank will be investing in seven districts in the initial phase.

The bank will invest Rs. 26 billion on upgrading of Samakhusi-Tokha Road, and Rs. 16 billion for the improvement of Pokhara-Beni-Jomson road.