The World Bank will give a Loan of 1 Trillion 30 Billion to Upper Arun

Kathmandu : The World Bank has been positive to give a concessional loan of 1 trillion 30 billion rupees for the Upper Arun Hydropower Project. Next week, a high-level Nepalese delegation is going to Washington to discuss the issue of increasing the share of concessional loans of the World Bank and increasing self-investment from the private sector in hydropower projects of strategic importance.

Finance Minister Dr.prakasha sharan Mahat organized the 21st Replenishment Meeting of International Development Assistance in Nepal. The World Bank is also positive about the proposal made by Finance Minister Dr. Mahat made this proposal today in a review meeting with World Bank South Asia Vice President Martin Razor and Development Finance Vice President Akihiko Nisio.

Dr.Mahat in the discussion held by with the Vice President, the progress of the current project was also reviewed.

There was a discussion about increasing the capacity towards site clearance and contract settlement and increasing the spillover effect by spending the projects scattered in many areas only in two or four priority areas.Likewise, both sides have agreed to prepare for the mobilization of budgetary assistance worth 300 million US dollars, i.e. 39 billion rupees, within the current financial year. Under this, policy reforms will be carried forward in the field of public finance financial sector and green uplifting and inclusive development grid.