The Asian Development Bank (ADB) has agreed to provide $15 million (equivalent to Rs1.57 billion) as a grant under the window of the Japan Fund for Poverty Reduction (JFPR) to help restore disrupted livelihoods and schooling in poor and severely earthquake-affected communities.

The JFPR is a fund set up by the government of Japan and managed by the ADB. The assistance will be mobilized under the Disaster Risk Reduction and Livelihood Restoration for Earthquake Affected Communities Project, which also aims to strengthen their resilience against future disasters.

Finance Secretary Lok Darshan Regmi and ADB Country Director for Nepal Kenichi Yokoyama signed the grant agreement on Tuesday at the Finance Ministry on behalf of their respective sides.