Govt. of India approves 16 road projects in Nepal
The government of India has approved 16 road projects, including a bridge over the Mahakali river in the far-western region, in Nepal.
The new projects under India’s financial assistance will be carried out under Indian government’s third Line of Credit.
The projects were agreed upon on Wednesday during the Fifth Bilateral Line of Credit Review Meeting between the governments of India and Nepal in Kathmandu.
The Indian Embassy in Kathmandu said in a statement, the road projects will be developed by consolidating 11 road packages and 1 bridge project as it is desirable to keep smaller number of packages to attract quality contractors.
Both sides also discussed the modalities for implementation of the Line of Credit for USD 750 million pledged by the government of India for the post-earthquake reconstruction of Nepal, which is now ready for operation, the embassy added.
The meeting, according to the embassy, also dwelt on expediting the Rahughat Hydroelectric, Koshi Corridor, Solu Corridor and Modi-Lekhnath Transmission line projects.
Similarly, the meeting also took up the issue of capacity development of the National Reconstruction Authority and other official agencies by way of familiarisation programmes for LoCs.
Both sides also agreed on setting up Joint Monitoring Teams to meet on a quarterly basis to ensure better monitoring and speedy implementation of the projects.
The meeting reviewed the progress made on the projects under USD 100 million LOC-I and USD 250 million LOC-II extended by the government of India to the government of Nepal through EXIM Bank of India.
Tag Keyword: Road Projects , Government of India , India and Nepal , Indian Embassy