KATHMANDU, NOVEMBER 6

A meeting at the Ministry of Finance has established a timeline for advancing five key projects and has decided to carry out preparatory and other necessary works for these projects under a fast-track modality.

The five projects, collectively valued at over Rs 72 billion, are funded by the World Bank and will be implemented on a fast-track basis, as decided in the meeting.

Presided over by Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, the meeting, held today at the Ministry of Finance, also made several significant decisions.

These include the expansion of the Bagmati-Pathalaiya section of the East-West Highway, the repair and maintenance of the third bridge, and the early preparation for the modernization of the electricity distribution system project, among others.

Additionally, the relevant ministries will hold discussions with stakeholders regarding the five projects to be funded through concessional loans from the World Bank. The aim is to resolve any outstanding issues and complete preparatory works, with the Ministry of Finance facilitating the process as necessary.

The meeting also resolved to expedite the digital service transformation project for the Rani Jamara Kulariya Irrigation (Phase III) under the fast-track modality.

As per the established timeline, preparatory work for these five projects will be completed by February 2025, with project proposals to be presented at the World Bank's board meeting in March 2025.

During the meeting, DPM Paudel instructed the concerned authorities to prioritize the preparatory works for the outlined projects and ensure proactive delivery once the proposals are approved.

Paudel further assured that Nepal will seek foreign aid based on specific needs and invest in areas that promise the highest returns.

The meeting was attended by 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, as well as other relevant office-bearers.