Govt to Accept Grant for Emergency Reconstruction of BP Highway

The government has decided to accept a grant assistance of 2.8 billion Japanese Yen from the Government of Japan for the emergency restoration of the BP Highway, which was damaged by floods.

A meeting of the Council of Ministers held on July 28 approved the decision, along with several others, Minister for Communication and Information Technology Prithvi Subba Gurung announced during during a press conference on Thursday.

The Cabinet also agreed to accept concessional loan assistance equivalent to approximately Rs 18.92 billion from the International Development Association (IDA) of the World Bank Group for the implementation of the third phase of the Rani Jamara Kulariya Irrigation Project.

Similarly, the government approved concessional loan assistance of USD 120 million (approximately Rs 16.74 billion) for the Power Distribution Strengthening Programme (PDSIP). This amount includes USD 86.7 million in shorter-maturity loans and USD 33.3 million in concessional loans from the IDA. Additionally, the Cabinet agreed to accept a grant of 20 million euros from the Government of Germany for the same programme.

The meeting also endorsed the 'Letter of Exchange' (LoE) to amend the Protocol of the Nepal–India Transit Treaty, 2023, and authorized a government representative to sign the document on its behalf.

As per the cabinet decision, Minister for Energy, Water Resources, and Irrigation Deepak Khadka will attend the 'National Forum on Pumped Storage Hydropower' scheduled to take place in Paris, France, from September 8 to 10.

In another decision, the government approved the exemption of royalties levied on 97 mountains opened for climbing activities in Karnali Province and Sudurpashchim Province. -- RSS