The Ministry of Finance has set a timeline to expedite five World Bank-funded projects valued at over Rs 72 billion, the state-owned news agency RSS reported.
According to RSS, the ministry decided to fast-track preparatory and related works for these projects during a meeting chaired by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Wednesday.
The meeting also resolved to expand the Bagmati-Pathalaiya section of the East-West Highway, carry out repairs on a bridge, and begin preparations for modernising the electricity distribution system.
In addition, the relevant ministries will hold discussions with stakeholders on these five projects, which are to be implemented with concessional loans from the World Bank. The ministries aim to resolve all outstanding issues and complete preparatory works, with the Ministry of Finance facilitating the process if necessary.
Work on the digital service transformation project and the third phase of the Rani Jamara Kulariya Irrigation Project will also be expedited through a fast-track approach.
Under the timeline, preparatory works for these five projects will be completed by February 2025, with project proposals scheduled for presentation at the World Bank's board meeting in March 2025.
DPM Paudel urged relevant authorities to prioritise the preparatory works and proceed proactively once approvals are granted. He emphasised that Nepal would seek foreign aid based on specific national needs, with a focus on high-return investment areas.
The meeting saw the participation of 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, and other key officials, RSS added.
