Five World Bank funded-projects to be implemented in fast track

KATHMANDU: A meeting at the Ministry of Finance has set timeline for taking forward five projects and decided to carry out preparatory and other works relating to those projects in fast track modality.

Five projects, collectively valued over Rs 72 billion, are funded by the World Bank and those projects will be executed in the fast track modality, the meeting decided.

In the meeting presided by Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel at the Ministry of Finance today, other significant decisions include expansion of Bagmati-Pathalaiya section under the East-West Highway, repair and maintenance of third bridge, early preparedness for modernization of electricity distribution system project among others.

Likewise, the concerned ministries will hold discussions with the stakeholders regarding those five projects to be carried out in concessional loan from the World Bank and resolve all outstanding issues and carry out preparatory works for which the Ministry of Finance will facilitate the process if need be, according to the meeting

Works relating to the digital service transformation project for the Rani Jamara Kulariya Irrigation III phase will be accelerated in fast track, the meeting concluded.

As per the timeline set, preparatory works relating to these five projects will be carried out within February, 2025 and project proposals will be presented at the World Bank's board meeting in March 2025, it was shared.

DPM Paudel, during the meeting, directed the authorities concerned to pay special attention for the preparatory works of the outlined projects and deliver pro-actively once those project proposals are approved.

Paudel assured Nepal will seek foreign aid based on its specific needs and will invest in areas that ensure highest returns.

Present in the meeting were 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 as well as concerned office-bearers.

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