The World Bank will lend 26.51 billion to Nepal

The World Bank is going to support two hundred million US dollars (Rs 26.51 billion) worth of loans for two projects.
Today’s meeting of the Executive Committee of the World Bank took this decision. According to the bank, this support will help in the expansion and maintenance of regional and local road network of Nepal.
“The World Bank is committed to support the inclusive development of Nepal. Through the International Development Association (IDA) of the World Bank, we have focused support to improve the quality of life of Nepalis through services and infrastructure,” said Ferris Haddad Jarvos, Country Director of the Bank for Maldives, Nepal and Sri Lanka.
According to the statement issued today by the head office of the bank in Washington DC, one hundred million (about Rs. 13.25 billion) will be used to improve revenue collection and increase the transparency of debt management.
The amount will be used to automate the foreign direct investment process.
Similarly, 100 million (roughly Rs. 13 billion 250 more will be spent on the maintenance of regional 9 Madhes, Karnali and Sudurpaschim provinces) and local road infrastructure. This will improve efficiency in service delivery as well as easy access to the local community.