Nepal Government to accept USD 450 million grant from World Bank
KATHMANDU:- Nepal Government has decided to accept USD 450 million grant (approximately Rs 54 billion) provided by the World Bank for the improvement of Nepal’s roads and post COVID-19 economic recovery through cross-border trade and employment.
The Cabinet meeting on July 7 took a decision in this regard. The Ministry of Finance floated the proposal to accept the grant, said Finance Minister and Minister for Communications and Information Technology, Dr Yubaraj Khatiwada. Under this support, Nagdhunga-Naubise-Muglin and Kamala-Dhalkebar-Pathalaiya would be improved.
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.
Likewise, the meeting decided to accept USD 50 million grant (Approximately Rs 5.9 billion) from the Asian Development Bank for the civil aviation area development programme of Nepal.