A high-level meeting of key stakeholders, including the Ministry of Finance (MoF), has decided to expedite the preparation of five major projects in Nepal, supported by the World Bank, with a combined value of approximately Rs. 72 billion. The projects include the development of the Bagmati-Pathlaiya section of the East-West Highway, bridge upgrades and maintenance, and the modernization of the electricity distribution system.
Additionally, the meeting resolved to fast-track the preliminary preparations for the third phase of the Ranijamara Kulariya Irrigation Project and the Digital Services Transformation Project, aimed at enhancing accessibility and resilience.
These projects will be financed through concessional loans from the World Bank. Relevant ministries will collaborate with stakeholders to complete the necessary groundwork, while the MoF will facilitate the process. The goal is to finalize all preparatory steps by February 2025, with plans to submit the project proposals for World Bank Board approval by March 2025.
Deputy Prime Minister and Finance Minister, Bishnu Prasad Paudel, emphasized the importance of thorough project preparation and called for swift action once the projects are approved. He also noted that Nepal will prioritize financial support according to its needs, focusing investments on areas with the greatest potential returns.
The meeting was attended by senior officials from the MoF, Ministry of Physical Infrastructure and Transport, Ministry of Energy, Water Resources and Irrigation, and the Ministry of Communications and Information Technology.
