Govt accepts USD 450 million loan from World Bank « Khabarhub
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Govt accepts USD 450 million loan from World Bank

09 July 2020  

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KATHMANDU: The government has decided to further expand and strengthen the strategic road network and trade routes with the support of the World Bank.

Under the project, the Nagdhunga-Naubise-Muglin section and Kamala-Dhalkebar-Pathlaiya road section will be improved.

Similarly, concessional loan assistance from the World Bank will be accepted for the improvement of international trade efficiency and capacity building program of strategic road network management.

A meeting of the Council of Ministers held on Tuesday decided to accept a total of USD 450 million loan. The loan is equivalent to Rs 54 billion.

According to the Minister for Finance, Communications and Information Technology, Dr. Yubaraj Khatiwada, the loan is being taken on the proposal of the Ministry of Finance.

Likewise, it was also decided to form a talk team to accept USD 150 million grant (approximately Rs 18 billion) from the International Development Association, World Bank Group for the sustainable and safe development of urban areas under the Nepal Urban Governance and Infrastructure Project.

The meeting also decided to accept USD 50 million grant (Approximately Rs 5.9 billion) from the Asian Development Bank for the civil aviation area development program of Nepal.

Publish Date : 09 July 2020 21:36 PM

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