Call to accelerate implementation of ADB-funded projects

KATHMANDU: A tri-party review meeting on Thursday stressed that implementation of the Asian Development Bank (ADB)-funded projects in Nepal should be accelerated.

The work progress reports presented at the meeting held at the Ministry of Finance show that 32 projects among the projects being implemented have witnessed a slow progress.

According to the ADB, there was an agreement on investing a total USD 1.73 billion in the execution of these projects, but around USD 1.145 billion remains unspent in the fourth quarter of the year 2016.

Addressing the meeting, ADB Deputy Director General Diwesh Sharan sought the seriousness of all the sides concerned to expedite the execution of the ADB-funded projects in Nepal.

“The frequent transfer of employees and a lengthy procurement process are also factors in the delay in the execution of the projects,” he added.

He suggested that Nepal should improve a progress index regarding the implementation of projects and increase the capital expenditure to see an increase in the ADB's investment here.

He drew the attention of the authorities concerned towards the delay in completing the task of upgrading Tribhuvan International Airport, the construction of Bhairahawa-based Gautam Buddha International Airport and the construction and expansion of various power transmission lines.

Finance Secretary Shantaraj Subedi also added at the meeting that the Ministry would seek support and cooperation from all sides to accelerate the implementation of the projects.

He said the government was committed to expediting such projects.

Finance Ministry's International Economic Coordination Division Chief Baikuntha Aryal and ADB's Nepal director Kenichi Yokohama were also present at the meeting.