Nepal Accepts Rs 50.51 Billion Soft Loan from World Bank for Infrastructure Projects
Kathmandu — The Government of Nepal has approved the acceptance of a Rs 50.51 billion soft loan from the World Bank to support key infrastructure development projects. The funding will be used to strengthen the strategic road network, upgrade trade corridors, and improve bridge infrastructure across the country.
Government spokesperson and Minister for Communications and Information Technology, Prithvi Subba Gurung, announced the decision while briefing the media on recent Cabinet resolutions. Of the total, around Rs 29.72 billion will be allocated for road and road network development, while an additional Rs 20.79 billion will be received as a grant for the third phase of bridge upgrades.
In another major development, the government has decided to accept a grant of Rs 1.8 billion from South Korea for implementing an inclusive rural development project in Bardiya district.
The Cabinet has also approved Prime Minister KP Sharma Oli’s official visit to Spain from June 30 to July 5, where he will lead a Nepali delegation.
In terms of international agreements, the Cabinet endorsed a decision to table the WTO fisheries agreement in the Federal Parliament for formal approval.
Additionally, the government announced the promotion of Ganesh Bahadur Thadamagar, a Deputy Inspector General (DIG) of the Armed Police Force, to the position of Additional Inspector General (AIG).
Nepal will also send a delegation to participate in the 16th meeting of the Nepal–India Bilateral Consultation Group, scheduled for June 23–24 in Pune, India.
The Cabinet further approved the use of 43.66 hectares of national forest land in Nawalparasi (East) for the construction of a 400-kV double-circuit transmission line, to be developed under the Millennium Challenge Account Nepal Development Committee (MCA-Nepal).
Moreover, the government authorized Minister Gurung’s participation in the upcoming World Summit on the Information Society (WSIS+20) and the AI for Good Summit 2025, to be held in Geneva, Switzerland, from July 7 to 11.
Furthermore, Nepal has formally joined the International Big Cat Alliance (IBCA), a global initiative led by India to enhance conservation efforts for seven species of big cats: tiger, lion, leopard, snow leopard, puma, jaguar, and cheetah.