1. World Bank sanctions USD 55m loan for Nepal road, bridge upgrade

World Bank sanctions USD 55m loan for Nepal road, bridge upgrade

Nepal has been granted 55 million dollars by the World Bank as loan to upgrade some of its roads and bridges. The loan has been offered under the Nepal government’s Road Sector Development Programme (RSDP) and will also be used for addressing post-earthquake reconstruction needs, reports the Kathmandu Post.

By: | Kathmandu | Published: August 28, 2016 5:38 PM
(Reuters) The additional financing is a World Bank top up and has been ongoing since 2008. What started out as a project for ten beneficiary districts and two million people, has now been expanded to cover 25 more. (Reuters)

Nepal has been granted 55 million dollars by the World Bank as loan to upgrade some of its roads and bridges. The loan has been offered under the Nepal government’s Road Sector Development Programme (RSDP) and will also be used for addressing post-earthquake reconstruction needs, reports the Kathmandu Post.

The additional financing is a World Bank top up and has been ongoing since 2008. What started out as a project for ten beneficiary districts and two million people, has now been expanded to cover 25 more.

Takuya Kamata, World Bank Country Manager for Nepal said that the primary focus is to develop connectivity in the poorest of the poor and with remotest regions of the country.

He said that the RSDP has been the cornerstone of the bank’s support for Nepal’s strategic roads network for nearly a decade.

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