KATHMANDU: A meeting at the Ministry of Finance has outlined a timeline for the rapid advancement of five projects, collectively valued at over Rs 72 billion, funded by the World Bank. These projects will be executed using a fast track modality, as decided in the meeting.
According to National News Agency Nepal, Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel presided over the meeting, where several key decisions were made. Among these decisions are the expansion of the Bagmati-Pathalaiya section under the East-West Highway, repair and maintenance of the third bridge, and early preparedness for the modernization of the electricity distribution system project.
Further discussions will be held by the relevant ministries with stakeholders concerning the five projects, which will be carried out with concessional loans from the World Bank. The Ministry of Finance will facilitate resolving any outstanding issues and support preparatory work if necessary.
The meeting also concluded that activi
ties related to the digital service transformation project for the Rani Jamara Kulariya Irrigation III phase will be accelerated. Preparatory work for these projects is set to be completed by February 2025, with project proposals scheduled to be presented at the World Bank’s board meeting in March 2025.
Deputy Prime Minister Paudel directed authorities to focus on the preparatory work for the identified projects and to act proactively once the project proposals receive approval. He also emphasized that Nepal would seek foreign aid based on its specific needs, targeting investments in areas that promise the highest returns.
The meeting was attended by secretaries from the Ministry of Finance, Ministry of Physical Infrastructure and Transport, Ministry of Energy, Water Resources and Irrigation, Ministry of Communications and Information Technology, along with other concerned office-bearers.