After a USD 100 million grant for energy sector, the World Bank (WB) has approved another major credit of USD 133 million for Nepal\u2019s infrastructure development.<\/p>\n
This time the credit is focused on the development of country\u2019s road & transport infrastructure.<\/p>\n
\u201cThe World Bank today approved a USD 133 million credit to help Nepal construct and maintain safe, resilient and cost-effective bridges on its Strategic Roads Network,\u201d read a statement from WB\u2019s official release on September 26, 2018.<\/p>\n
The fund will support Nepal on its \u2018Strategic Roads Network of Nepal\u2019 that envisages the development of Nepal\u2019s transport infrastructure i.e., roughly 12,142 km of national highways, feeder roads and other roads of national importance connected by 1,773 bridges.<\/p>\n
Under the \u2018Second Bridges Improvement and Maintenance Program (BIMP-II)\u2019 that is looking at connectivity and provincial development to spur economic growth, the new fund targets:<\/strong><\/p>\n \u201cNepal needs a strong bridge network and even stronger institutions to manage and develop that network into the future. BIMP II aims at supporting both the network\u2019s physical development as well as the government systems that manage it,\u201d says Faris Hadad-Zervos<\/span>, World Bank Country Manager for Nepal<\/a>.<\/p><\/blockquote>\n Faris hopes that the proposed developments would enhance the country\u2019s crucial road network leading to increased and easy connectivity to the local populace, while saving time and costs associated with transport and trade.<\/p>\n BIIMP-II comes as a predecessor to BIIMP-1, the first-such global initiative that offers needed boost to the Program for Results (P4R) financing instrument to effective fund utilization for verifiable results.<\/p>\n \u201cThe operation also has a strong focus on climate resilience, gender inclusion and innovative technologies,\u201d says Dominic Pasquale Patella<\/span>, Senior Transport Specialist at the World Bank and Co-Task Team Leader of the Operation<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":" After a USD 100 million grant for energy sector, the World Bank (WB) has approved another…<\/span><\/p>\n\n