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<p style="text-align: justify;">Baikuntha Aryal , Joint Secretary at the International Economic Cooperation Coordination Division of the Ministry of Finance (MoF) and Takuya Kamata, Country Manager, World Bank, Nepal signed the Financing Agreement today in the MoF office regarding the loan assistance.</p>
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<p style="text-align: justify;">Baikuntha Aryal , Joint Secretary at the International Economic Cooperation Coordination Division of the Ministry of Finance (MoF) and Takuya Kamata, Country Manager, World Bank, Nepal signed the Financing Agreement today in the MoF office regarding the loan assistance.</p>
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December 19: The World Bank is providing additional loan assistance of US Dollar 55 million (approximately Rs 5.94 billion) to the government of Nepal for the implementation of Road Sector Development Project (RSDP) under implementation since 2008.
Baikuntha Aryal , Joint Secretary at the International Economic Cooperation Coordination Division of the Ministry of Finance (MoF) and Takuya Kamata, Country Manager, World Bank, Nepal signed the Financing Agreement today in the MoF office regarding the loan assistance.
According to a press release issued by Ministry of Finance, the project has three components including Road and Bridge Development, the Institutional Strengthening and Project Implementation Support and the Resilience Enhancement. During the project period, 21 different activities will be carried out. The final outcomes of the project include all-season road access, reduced travel time and improved access to economic centre and social services in 31 beneficiary districts.
The project will upgrade about 700 kilometres of existing dry-season roads and carry out periodic maintenance of about 2550 km selected strategic roads. The construction of 33 bridges on selected roads of the Strategic Roads Network and the replacement of three earthquake-affected bridges with permanent structures are also the major activities of the project.
According to the statement, the project also consists of technical audit of the civil works and the maintenance of 355 bridges affected by the devastating earthquake last year. The Ministry of Physical Infrastructure and Transport will be the executing agency and the Department of Roads will be responsible for implementation of the project.
The Government of Nepal has expressed its sincere appreciation to the World Bank for this assistance and for continued support in the socio-economic development of Nepal, reads the statement.
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<p style="text-align: justify;">Baikuntha Aryal , Joint Secretary at the International Economic Cooperation Coordination Division of the Ministry of Finance (MoF) and Takuya Kamata, Country Manager, World Bank, Nepal signed the Financing Agreement today in the MoF office regarding the loan assistance.</p>
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