Kathmandu, Jan. 2
The number of
development programmes in the National Project Bank has climbed to 7,128 by the
end of 2021 from 6,512 projects in February that year.
The project bank
managed by the National Planning Commission (NPC) has ranked 5,790 projects as
ongoing while 1,338 are future projects. In February last year, the number of
ongoing and future projects was 5,347 and 1,165 respectively.
According to the
NPC, the project bank aims at providing ministries and development agencies the
required tools to make well-informed strategic development decisions based on
evidence based on assessment, prioritisation and planning.
Number of
projects in National Project Bank
|
Projects |
February 2021 |
December 2021 |
|
Projects submitted |
6512 |
7128 |
|
Ongoing projects |
5347 |
5790 |
|
Future projects |
1165 |
1338 |
Source: NPC
The total cost
of the projects included in the bank is more than double the size of the national
economy, Nepal's economy is estimated to be of Rs. 4266.3 billion by the end of
the last fiscal year 2020/21.
However,
inclusion of project in the bank does not ensure its implementation, it should
be apprised by the government. By February last year, the government had
apprised only 284 projects.
The NPC accepts
the project following a submission of a concept note from the competent
authority while the latter should conduct feasibility study for the approval
while complex projects need the Detailed Project Report (DPR) as well. Only
after completing these stages, the project is selected and prioritised in the
project bank.
No funding will
be released to the projects not included in the bank, said the NPC. When
selected, the project is included in the Medium-Term Expenditure Framework and
the Ministry of Finance makes arrangements for the funding.
These projects
are categorised into five different sectors: physical infrastructure, urban
development, energy and water resources, water supply, and home affairs.
The bank will
provide readily and
thoroughly analysed projects of diverse sectors for execution which will help
in effective management and optimal utilisation of the available resources.
Likewise, the bank will help in the integration of projects for
development effectiveness and facilitate their monitoring and evaluation.
Published in The Rising Nepal daily on 3 January 2022.
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