Nepal Fast-Tracks Five Major Projects Worth Rs 72 Billion with World Bank Support

In a significant move to expedite development, the Ministry of Finance has set a timeline to fast-track five World Bank-funded projects collectively valued at over Rs 72 billion. The projects, focused on infrastructure, digital transformation, and energy, are set to move forward with preparatory work slated for completion by February 2025 and project proposals scheduled to be presented at the World Bank’s board meeting in March 2025.

Presiding over the meeting, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel emphasized the importance of proactive planning and execution, instructing authorities to focus on early preparation and stakeholder collaboration. Key initiatives discussed included the expansion of the Bagmati-Pathalaiya section of the East-West Highway, repair and maintenance of the third bridge, and modernization of the electricity distribution system.

Among the projects being prioritized, the Rani Jamara Kulariya Irrigation Phase III’s digital transformation is set for accelerated development, while ministries are tasked with addressing any outstanding issues through consultations with stakeholders. The Ministry of Finance has pledged to assist in overcoming potential obstacles to ensure seamless progress.

DPM Paudel stressed that Nepal will continue to seek foreign aid aligned with its strategic needs and focus on high-return investments. He urged officials to prioritize efficient delivery on these critical projects once approved, ensuring that foreign aid translates into tangible, high-impact results.

The meeting brought together senior officials, including secretaries from the Ministry of Finance, Ministry of Physical Infrastructure and Transport, Ministry of Energy, Water Resources and Irrigation, and Ministry of Communications and Information Technology, highlighting the government’s commitment to a coordinated approach in advancing these large-scale projects.