Sunday, 23rd November 2014

WB provides assistance of Rs 14.56 billion


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The International Development Association (IDA) of the World Bank (WB) has agreed to provide Rs 14.56 billion loans and grants for the implementation of the Strengthening National Rural Transport Programme (SNRTP) and Irrigation and Water Resource Management Project (IWRMP-AF).

The assistance includes 72 million US Dollars grant and 28 million US Dollars as loans equivalent to Rs 9.71 billion for the implementation of the Strengthening National Rural Transport Programme (SNRTP) and 50 million US Dollars including 20 million US Dollars grant and 30 million US Dollars loan equivalent to Rs 4.85 billion for the implementation of the IWRMP-AF.

The agreements to this effect were signed and exchanged at the Ministry of Finance today. The SNRTP projects are expected to link rural communities by expanding roads in 33 districts and provide rural transport infrastructure in  Kanchanpur, Kailali, Surkhet, Bardiya, Salyan, Banke, Rupandehi, Makwanpur, Nuwakot, Rautahat, Saptari, Bhojpur Sankhuwasabha and Terathum, among other districts,  where some 14. 6 million people live and more than 25 percent are poor.

This will upgrade rural roads and increase productivity. The IWRMP-AF is to improve irrigated agriculture productivity and management in 40 districts of Western, Mid-Western and Far Western Regions, two from Central Region and three from Eastern Region.

Finance Ministry Joint Secretary Madhu Kumar Marasini said it will uplift the living standards of the people. World Bank Country Director Johannes Zutt expressed the view that the assistance will provide and upgrade irrigation infrastructure in Mid-West and Far-West regions.