Friday 25th September 2020

COVID-19 Crisis: World Bank Grants ‘USD 450 Million’ Loan to Nepal

The bank aims at improving road infrastructure and set the course for post-COVID-19 economic recovery in Nepal.
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COVID-19 Crisis: World Bank Grants ‘USD 450 Million’ Loan to Nepal

The coronavirus pandemic has thrown a spanner into Nepal’s ambitious initiatives such as Visit Nepal 2020 and Spring Everest Expedition, pushing the country to the verge of economic breakdown.

The sudden spike in COVID-19 infections in recent weeks has further added fuel to the fire.

At this juncture, the World Bank has demonstrated its commitment to help Nepal recover from the socioeconomic implications of the pandemic.

On June 10, 2020, the World Bank has approved a USD 450 million worth loan to improve Nepal’s road infrastructure and set the course for post-COVID-19 economic recovery.

According to the World Bank, the amount will be allocated for the Nepal Strategic Road Connectivity and Trade Improvement Project.

ALSO READ: USA Grants USD 5.5 Million COVID-19 Assistance to Nepal

The objectives of the project include:

  • Improve Nagdhunga-Naubise-Mugling road
  • Upgrade Kamala-Dhalkebar-Pathlaiya road
  • Improve infrastructure, facilities and sanitation at border crossing points
  • Enhance health screening people at border facilities
  • Implement guidance for special working arrangements such as remote working
  • Conduct periodic maintenance of high-traffic roads within the Strategic Road Network
  • Bolister the National Road Safety Council and the Department of Roads

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