Kathmandu: The government and the World Bank signed a $450 million (around Rs. 54 billion) financing agreement that will help Nepal improve the efficiency and safety of transport infrastructures, cross-border trade, and strengthen capacity for strategic road network management.
The agreement was signed by Finance Secretary, Sishir Kumar Dhungana on behalf of the government of Nepal and the World Bank Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos in the presence of Finance Minister Dr Yubaraj Khatiwada at the Ministry Friday.
According to the press statement issued by the Ministry, Minister Khatiwada said that the support will enhance connectivity and country integration along with cross border markets to support post-COVID-19 recovery. He further said connectivity was in high priority for rapid and sustainable development agenda of Nepal.
Sustainable transport and sustainable, inclusive and high-quality infrastructure are of cross cutting importance for accelerating economic growth, national and regional economic integration and attaining the sustainable development goals, he stressed. This is the single largest value project that the government has signed with the World Bank.