Five World Bank-Funded Projects to be Implemented on Fast Track

Representative image of meeting

KATHMANDU, NOVEMBER 7: A meeting at the Ministry of Finance held yesterday set a timeline to advance five projects and accelerate preparatory and other related tasks using a fast-track approach. These projects, valued collectively at over Rs 72 billion, are funded by the World Bank and will proceed under expedited timelines, as agreed in the meeting.

The meeting, chaired by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, covered several key initiatives. These include expanding the Bagmati-Pathalaiya section of the East-West Highway, repairing and maintaining the third bridge, and preparing to modernize the electricity distribution system, among others.

Relevant ministries will engage stakeholders to address any outstanding issues and complete the necessary groundwork, with the Ministry of Finance ready to facilitate as needed. The meeting also decided to fast-track the digital service transformation project for the Rani Jamara Kulariya Irrigation Phase III.

According to the set timeline, all preparatory work for these five projects will be completed by February 2025, and project proposals will be presented at the World Bank’s board meeting in March 2025.

DPM Paudel urged authorities to prioritize and actively manage the preparatory work to ensure swift progress once project proposals are approved. He emphasized that Nepal would pursue foreign aid strategically, targeting investments with the highest potential returns.

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 relevant officials, attended the meeting.

 

 

 

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