Monday, December 19, 2016

WB provides Rs 5.94 billion additional loan for road sector development

The World Bank has agreed to provide $55 million (approximately Rs 5.94 billion) additional loan assistance to the government for the implementation of Road Sector Development Project (RSDP), which has been under implementation since 2008.
Joint Secretary and chief of International Economic Cooperation Coordination Division under Finance Ministry Baikuntha Aryal and country manager of World Bank Nepal Takuya Kamata signed the Financing Agreement today in the Finance Ministry on behalf of the Government of Nepal and the World Bank respectively.
The project has three components; the Road and Bridge Development, the Institutional Strengthening and Project Implementation Support and the Resilience Enhancement.
During the project period, 21 different activities will be carried out. The final outcomes of the project include all-season road access, reduced travel time and improved access to economic centre and social services in 31 beneficiary districts, according to a press release issued by the Finance Ministry.
It is stated that the project will upgrade about 700-km of existing dry-season roads and carry out periodic maintenance of about 2,550-km selected strategic roads. The construction of 33 bridges on selected roads of the Strategic Roads Network and the replacement of three earthquake-affected bridges with permanent structures are also the major activities of the project.
The project also consists of technical audit of the civil works and the maintenance of 355 bridges affected by the devastating earthquake last year. The Ministry of Physical Infrastructure and Transport will be the executing agency and the Department of Roads will be responsible for implementation of the project.
The government has expressed its sincere appreciation to the World Bank for this assistance and for continued support in the socio-economic development of Nepal.

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