Kathmendu, Nov. 5
A high-level
meeting of the stakeholders including the Ministry of Finance (MoF) has decided
to complete the preparations for five major projects (worth about Rs. 72
billion) in Nepal supported by the World Bank on the fast track.
It includes the
preparedness of the projects of the Bagmati-Pathlaiya section of the East-West
Highway, upgrade and maintenance of bridges, and modernisation of the
electricity distribution system.
The meeting also
decided to expedite preliminary preparations for the third phase of the
Ranijamara Kulariya Irrigation Project and the Digital Services Transformation
Project for Enhancing Accessibility and Resilience. These projects will be
executed under concessional financing from the World Bank. Relevant ministries
will engage with stakeholders to complete the necessary groundwork while the
MoF will facilitate the process.
The decision
targets the finalisation of all preparatory steps by February 2025. The MoF has
the plan to submit the project proposals at the World Bank’s Board meeting in
March 2025.
Deputy Prime
Minister and Finance Minister, Bishnu Prasad Paudel, said that there is a need
for meticulous project preparation, and urged for swift action upon project
approval.
He stated that
Nepal will accept financial support as per its need and direct investment
towards areas promising maximum returns.
The meeting was attended
by senior officials including from the MoF, Ministry of Physical Infrastructure
and Transport, Ministry of Energy, Water Resources and Irrigation, and the
Ministry of Communications and Information Technology.
Published in The Rising Nepal daily on 6 November 2024.
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